Egypt’s Pharaonic Petroleum reaches 98.5% of ’23/’24 targets

Egypt’s Pharaonic Petroleum Company, achieved 98.5 per cent of its production plan for the fiscal year 2023/2024, with an average production rate of 79,000 barrels of oil equivalent per day, despite challenges such as normal well decline, maintenance works, and reduced pressure in older wells at Hapi and Tort fields.

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawy, praised the company’s efforts in safety, occupational health, environmental protection, emissions reduction, and energy efficiency.

The company was successful in achieving sustainability targets through energy efficiency, the application of safety procedures, and environment conservation.

Attribution: The Egyptian Cabinet

Subediting: M. S. Salama