Khalda Petroleum unveils new oil discovery in Egypt’s Western Desert
Updated 8/28/2024 7:09:00 AM
Arab Finance: Khalda Petroleum Company (KPC), a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Apache, announced a new oil discovery in the West Fewebs-1 at Kalabsha development area of Egypt’s Western Desert, as per an official statement.
The well was tested by drilling 270 feet into the Paleozoic sands, and the recovery on a one-inch production opening was 7,165 barrels of oil a day with a quality of 44 degrees and 23 million cubic feet of associated gas.
The electric logs of the well showed evidence of petroleum in the Paleozoic component with a total net thickness of 462 feet.
On August 27th, the Egyptian Natural Gas Holding Company (EGAS) launched an international natural gas exploration bid round in 12 blocks across the Mediterranean and the Nile Delta region.
The Egyptian government is reportedly planning to increase the country’s daily natural gas production to around 5 billion cubic feet by the end of 2024.
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