BORAPETCO Announces New Oil Discovery
Borg El-Arab Petroleum Company (BORAPETCO)’s Chairman, Ahmed Anwar, stated exclusively to Egypt Oil&Gas that the company is currently drilling a new exploratory well, Al Jahra southeast 2, in its concession in Abu Sinan area, which is located in Egypt’s Western Desert.
Anwar added that the new well is being drilled at a depth of 2088f using the EDC-50 drilling rig. The crude oil producing well is being drilled with investments of $3m, and is planned to reach 3006f. The drilling process is ongoing and reserves are being estimated.
Anwar further explained that after completing the drilling and exploration work, the well will go online in order to increase the reserves and to enhance the production of the company.
The company’s average production of crude oil has reached 3,860b/d and 3.03mcf/d of gas.
BORAPETCO is a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Kuwait Energy Company.