Pharaonic Petroleum reaches output targets

Pharaonic Petroleum Company exceeded production targets for FY 2024/2025, achieving 117 per cent of its plan by end-March, with an average daily output of 76,280 barrels of oil equivalent. Gas production reached 388 million cubic feet per day (115 per cent), and condensates 9,370 barrels (132 per cent) per day, despite natural field declines.

The company reported that it has cut flaring to its lowest level since 2018, saving 200 million standard cubic feet of gas and reducing CO₂ emissions by 19,000 tons annually. It also logged over 33 million safe working hours and maintained key ISO certifications in safety, environment, and energy management.

Exploration activities revealed promising prospects of up to 1.5 trillion cubic feet of gas in the Oligocene reservoirs, while digital transformation efforts boosted cybersecurity and ERP integration.

During the company’s General Assembly meeting, Minister of Petroleum Karim Badawi urged sustained technical focus and partner cooperation. IEOC and BP praised the company’s safety performance, environmental compliance, and operational efficiency.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama