Runs out Petroleum sector An ambitious five-year plan to increase production, based on development and expansion Infrastructure To ensure the absorption of the targeted increases in reserves and production, and accelerate their linkage Production mapTo avoid any bottlenecks that may delay the benefit of additional capabilities.
These efforts primarily aim to reduce the import bill, while ensuring that the needs of the local market are met, and supporting the expansion of value-added industries, according to statements by Engineer Karim Badawy, Minister of Petroleum and Mineral Resources.
The most important performance indicators for Agiba Petroleum Fields include the following:
1- Investments in the amended budget for the current fiscal year amount to about $639 million.
2- Production recorded about 41.5 thousand barrels equivalent per day, achieving 102% of the target during the first half of the year.
3- Supported by drilling 18 development wells and carrying out 110 maintenance operations.
4- The company’s success in achieving zero routine torch burning, treating all of the produced water according to international standards, and re-injecting it into the wells, which supports the efficiency of the reservoirs and the sustainability of production.
5- The recent drilling results showed positive indicators, as the production of the “Dorra 36” and “West Yasmine 3” wells reached about 1,650 barrels of oil and 19 million cubic feet of gas per day.
6-With regard to the next fiscal year, investments are targeted at approximately $509 million
7- To achieve a daily production of 38 thousand barrels of oil and 125 million cubic feet of gas.
