Agiba Petroleum Company currently produces 45,000 barrels per day (b/d) of crude oil from its fields in the Western Desert and the Gulf of Suez, according to Mohamed El Kaffas, the company head, Egypt Oil & Gas reports.

Agiba managed to boost its production from Ashrafi field in the Gulf of Suez to 3,500 bbl/d, compared to the previous 2,200 bbl/d output.

The company plans to invest $320 million in the fiscal year (FY) 2018/19, El Kaffas pointed out during the visit of the Minister of Petroleum, Tarek El Molla, to the company’s fields to follow up the production.

Agiba further plans to increase production from Ashrafi field, as well as other fields in the Western Desert through drilling exploratory wells in South-West Meleiha, El Kaffas said, adding that Agiba drilled two new wells with a production capacity of around 7,500 b/d.