Petrobel hikes gas production to 1bn ft3/d in FY2015-16

Egyptian Balaeim Petroleum Co- Petrobel has succeeded to produce more than one billion cubic feet of gas per day during fiscal year 2015-16.

Chairperson Atef Hassan stated Sunday that company’s production rates of different petroleum products have been improved during the current period.

He added that Petrobel has adopts a plan to develop all production fields in its concession areas.

The production rates of Petrobel is set to be doubled within the coming years after Zohr gas field starts production, the official clarified.

Hassan noted that the company exerts efforts to boost oil and gas reserves and production

Petrobel’s current production of oil, natural gas, and condensates reached around 293,000 BOE per day including; 86,500 barrels of crude oil, more than one billion cubic feet of gas, 11,700 barrels of condensates, and 324 tonnes of butane.