Rashid Petroleum Company/Burullus Gas Company (RASHPETCO) and Badr El Din Petroleum Company (BAPETCO) reported production increase for fiscal year (FY) 2016/2017, Egypt Oil & Gas Reports.
RASHPETCO’s production rose to approximately 526 million standard cubic feet per day (mscf/d) of natural gas and more than 6,000 barrels of condensates, the company’s head, Hesham El Attar, reported at the company’s annual review. He also said that the company plans to drill two new exploratory wells during the fourth quarter of 2018. Attar noted that the company had commenced work on phase 9B for the Burullus Concession. During this phase of the project, the company will complete surveys and install equipment and control devices.
BAPETCO increased daily production from its concessions in the Western Desert to approximately 131,000 barrels of oil equivalent (boe) of crude oil and natural gas after adding production from new wells and developing existing wells, the company’s head, Sabry El Sharkay, said during the company’s fiscal-year review. He noted that the company had drilled 23 development and exploratory wells for oil and gas and increased the company’s accessible reserves to around 238 million barrels of oil and 4,779 billion cubic feet (bcf) of natural gas. Total investments have reached $202 million, he added.