Egyptian Agiba Petroleum to dig 7 oil fields in FY2018/19

Egyptian leading oil and gas firm Agiba Petroleum Company plans to to dig seven developmental oil fields within the financial year 2018/2019, its chairman Mohamed al Kafas said in the general assembly meeting of the company.

The company also seeks to produce 46,000 barrels of crude oil per day and 16 million barrels per year within the financial year 2018/2019, al Kafas further added.

The daily production rate of Meleiha Field and Karnak Field is about 2500 barrels and 1320 barrels of crude oil per day, respectively.

Agiba Petroleum Company amplified its petroleum reserves to 10 million barrels of crude oil and 39 billion cubic feet of gas in financial year 2016/2017. Source: Egypt today