Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi met with Mohamed Farouk, CEO of ADES Holding to discuss the firm's operations in drilling exploratory and production wells in the Abu Redis concession under Pharos Energy Plc, previously SOCO International, and the Gulf of Suez concession under the General Petroleum Co (GPC), as per a statement.
Discussions covered upcoming plans for exploratory and development wells aimed at increasing crude oil production.
Badawi praised ADES’ achievements and the dedication of its teams, highlighting the successful implementation of advanced technologies that contributed to increased production rates in the Ras Badran field in Abu Redis.
He noted that these successes align with the ministry’s strategy to maximize Egypt’s oil and gas production by intensifying exploration and drilling activities.