Khalda Petroleum achieves significant production gains in FY23/24

Khalda Petroleum Company reported on Thursday substantial improvements in production and operational efficiency during the fiscal year 2023/2024. Average daily oil equivalent production from its Western Desert fields exceeded 220,000 barrels, with crude oil output increasing from 113,600 to 121,000 barrels per day.

These achievements were driven by investments of approximately $1.3 billion in exploration and field development. Key activities included drilling 23 exploratory wells, developing 92 new wells, and re-completing 133 wells. Additionally, Khalda has embraced sustainable practices by implementing solar energy solutions and reducing gas flaring through the utilisation of associated gases.

Looking ahead, Khalda Petroleum plans to maintain its growth momentum by further enhancing production, operational efficiency, and sustainability efforts. The company aims to capitalise on its investments and continue contributing to Egypt’s energy sector.

Khalda is a joint-venture between Apache and the state-controlled Egyptian General Petroleum Corporation (EGPC).

Minister of Petroleum and Mineral Resources, Karim Badawy commended Khalda Petroleum for its commitment to safety and environmental protection, emphasising its vital role in strengthening Egypt’s energy industry.

Attribution: Ministry of Petroleum and Mineral Resources

Subediting: Y.Yasser