Abu Qir 3 Reserves are 500bcf of Gas and 20mb of Oil

Abu Qir Petroleum CEO, Adel Hegazy, stated that North Abu Qir3 area’s 500bcf gas reserves and 20mb oil reserves are expected to push the company’s gas production to reach 300mcf/d and oil production to 7000b/d of condensates and 270 tone of butane daily, reported Al Watan News.

North Abu Qir3 is the sixth platform owned by the company. It includes equipment to facilitate simultaneously producing crude oil and gas, the first if its kind for Abu Qir Petroleum Company.

Hegazy added that Abu Qir Petroleum will drill three additional wells, with the first one coming into production by December 2016, the second well by February 2017 and the third by April 2017.