Egypt’s Khalda Eyes Gas Production Rates of 940m SCF by Year-end

Khalda Petroleum Company (KPC) is planning to boost its production rates to 940 million cubic feet of natural gas by end of 2014, said the head of the company Mohamed Abdel Azim.

This comes in comparison with the company’s production rates of 900 million cubic feet during last January.

Khalda is a joint venture between the Egyptian General Petroleum Corporation (EGPC) and the U.S. Apache Corporation.

Speaking to Amwal Al Ghad on Thursday, Abdel Azim revealed that Khalda Petroleum’s strategy for fiscal year 2014/2015 includes the drilling of 34 new exploration wells to increase production rates of crude oil and natural gas.

Moreover, Khalda is planning to obtain new franchises in the Western Desert through its foreign partner Apache Corporation, the official noted.