Egypt’s Khalda Petroleum announces new oil, gas discoveries

Egypt’s Khalda Petroleum Company  announced three new discoveries of crude oil and gas in its concessions in the Western Desert. These discoveries are expected to add approximately 12 million barrels of oil equivalent to the reserves, with a recoverable reserve of 4 million barrels of oil equivalent.

According to the Ministry of Petroleum and Mineral Resources’ statement, the daily production rate has been tested and evaluated, reaching nearly 2,750 barrels of oil and condensates, as well as 20 million cubic feet of gas. The volume of associated gas is currently being calculated. These discoveries also highlight the significant role of Apache, the Khalda’s  partner, in developing gas alongside crude oil in the region.

Moreover, Khalda’s gas production is expected to rise to over 480 million cubic feet, with projections reaching 500 million cubic feet in the near future. Without these initiatives, gas production at Khalda would have declined to 380 million cubic feet in just six months.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama