Alamein Petroleum to Allocate $25M for Drilling Operations During FY 2025/26

Alamein Petroleum to Allocate $25M for Drilling Operations During FY 2025/26

The Chairman of Alamein Petroleum Company Mahmoud Tolba reviewed the modified budget plan of the company for the fiscal year (FY) 2024/25 which includes drilling three developmental wells in East Abu Sennan and the recommended budget plan for FY 2025/26 amounting to $25 million.

This came during the general assembly meeting of the company to approve these plan headed by EGPC Chairman Salah Abdel Kerim

Tolba explained the budget plan of FY 2025/26 includes drilling deep exploratory well and assessment well in Horus field in addition to another exploratory well in East Abu Sennan field. 

He also presented a number of projects currently being implemented to reduce operating expenses, including the establishment of two oil production stations in the East Abu Sennan field to replace the rented facilities. 

He also reviewed the company’s efforts to reduce diesel consumption and its situation  of exploiting the flare gas produced in the Horus field to operate a gas-powered generator to provide about 650 liters of diesel per day and reduce carbon emissions by about 635 tons annually, in addition to the ongoing technical study to conduct a field experiment to operate one of the wells using solar energy instead of the diesel-powered generator.

praised the company’s safety and environmental protection performance, in light of the absence of any serious accidents or work injuries for nearly ten consecutive years of work, stressing the need to continue on the same approach, directing the need for the company to continue working to reduce the cost of producing a barrel, stressing the Authority’s full support for the company to overcome any obstacles to achieve the drilling and production plan and reduce expenses.

Abdel Kerim praised the company’s health, safety and environmental (HSE) measures , in light of the absence of any serious accidents or work injuries for nearly ten consecutive years of work, stressing the need to continue on the same approach. He urged the need for the company to continue working to reduce the cost of producing a barrel, stressing the EGPC’s full support for the Alamein company  to overcome any obstacles to achieve the drilling and production plan and reduce expenses.

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Fatma Ahmed 2092 Posts

Fatma Ahmed is a staff writer with six years’ experience in Journalism. She is working in the field of oil and gas for four years. She also worked in the field of economic journalism for 2 years. Fatma has a Bachelor Degree in Mass Communication.

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