Arab Finance: Egypt's petroleum sector has succeeded in adding approximately 12,000 barrels per day (bpd) of crude oil and condensates to the Western Desert's production over the past two weeks, according to a statement by the Ministry of Petroleum and Mineral Resources.
This production includes more than 10,000 bpd from Khalda Petroleum Company's fields, in addition to about 1,500 bpd from the General Petroleum Company's (GPC) fields in the Abu Sinan concession.
Khalda Petroleum, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and APA Corporation, increased its daily production to around 123,500 bpd as of June 8th from 113,300 bpd on May 26th.
The leap was mainly attributed to bringing five new wells online, including three development wells and two exploration wells.
Meanwhile, GPC achieved its highest production rates since October 2024, with a total production reaching nearly 74,500 barrels of oil equivalent per day, including 61,000 barrels of crude oil.
The achievement backs the Ministry of Petroleum's strategy to develop new discoveries and maximize the utilization of existing fields by expanding drilling and exploration activities and deploying the latest advanced technologies. This also follows the gradual settlement of $6.1 billion outstanding dues over two years.
