Khalda Petroleum aims to launch $70M diesel production project within FY2024/25
Updated 10/23/2024 8:59:00 AM
Arab Finance: Khalda Petroleum Company (KPC), a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Apache, is planning to launch a new diesel production project within this fiscal year (FY) 2024/25, with investments of $70 million, Chairman Saeed Abdel Moneim told Al Borsa News.
The company targets investing around $1.3 billion this FY, with the aim of producing around 500 million cubic feet of gas.
The company is producing about 450 million cubic feet of liquified gas, ranging from 140,000 to 145,000 barrels a day.
This is in addition to producing roughly 1.5 million liters of diesel annually from Kalabsha project.
On August 27th, the company announced a new oil discovery in the West Fewebs-1 at Kalabsha development area of Egypt’s Western Desert.
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