Egypt’s Khalda Petroleum exceeds output targets with 23 discoveries

Egypt’s Khalda Petroleum has made 23 oil and gas discoveries in fiscal year 2024/25, helping it exceed production targets with daily natural gas output hitting 514 million cubic feet, the petroleum ministry said on Monday.

Petroleum Minister Karim Badawy, who chaired the company’s general assembly, credited incentives and cooperation with foreign partners for accelerating exploration and stabilising supplies.

Khalda Chairman Moataz Atef said the company had strengthened safety standards and deepened collaboration with Apache Corp. Apache executives Greg McDaniel and Brian Radiseki cited new infrastructure and sustainability projects as key to supporting future growth.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser