Egypt’s Agiba Petroleum hikes crude oil production to 63,000 barrels per day

Egyptian leading oil and gas firm Agiba Petroleum Company succeeded to boost its daily production of crude oil to around 63,000 barrels, Chairman Osama Elbakly stated Thursday.

He added that the company has drilled 35 wells -including 4 exploration wells- besides carrying out 166 maintenance works in wells during financial year 2015-16.

Agiba has started executing a project to produce associated gas in Maleha concession area during current fiscal year that delivered 189 million cubic feet of gas .

The chairman made these remarks during the meeting of Agiba’s  general assembly to approve business results of financial year 2015-16.

The meeting was attended by CEO of the Egyptian General Petroleum Corporation (EGPC), Tarek El Hadidi, and Head of Egyptian Natural Gas Holding Company – EGAS, Mohamed Al-Masry.