Minister of Petroleum and Mineral Resources Karim Badawi has met with a delegation from Weatherford including Mohamed Balgacem, the Vice President of MENA Region, Mohamed El Tonsy, Area Director and Osama El Shenoufy, Weatherford East North Africa Sales Director. The meeting focused on enhancing cooperation and providing digital solutions and services for well drilling.
During their meeting, Badawi reviewed the ongoing efforts of Weatherford in applying the project of digitizing oil and gas wells and fields at the sites of Khalda Petroleum Company in the Western Desert.
The project adopts applying the latest digital technologies in 100 wells in order to measure, monitor and analyze production data in real time. These technologies allow more efficient management and operation of production wells, sustainability and continuity of productivity, and enhancing the safety and safe operation of wells.
The first phase of the project, which included connecting 30 wells to the new digital system, has been completed. The next phase aims to work on 70 additional wells by 2025. The company is also working on equipping storage tanks with advanced digital measurement systems.
For his part, the Minister stressed that the petroleum sector is open to cooperation with global partners in the field of services and technology for the petroleum industry in a way that enhances its use in developing and growing petroleum production, raising its rates and overcoming challenges.
He also reaffirmed the sector’s commitment to supporting efforts to provide the latest technologies that enhance research and exploration operations, develop fields, and eliminate obstacles hindering their implementation.
Additionally, Badawi emphasized his support for fostering constructive cooperation and integration between operating and production companies, as well as service and technology providers.
The minister added that new investment opportunities have begun to be offered in the fields of research, exploration, and production through the recently launched bid round or the areas offered on the Egypt Upstream Gateway (EUG) as one of the pillars that the ministry is working on to support and increase the activities needed to raise production rates.
For his part, Balgacem confirmed that Weatherford is interested in expanding its business in Egypt, noting that it has doubled its business volume over the past two years, and is looking forward to doubling it again in the coming years.
He explained that the company is working on its current projects in coordination with the Egyptian General Petroleum Corporation (EGPC), and is open to harnessing its expertise and advanced technological solutions in the field of oil well management for the benefit of Egypt’s goals and plans to increase production.
Weatherford is also looking forward to participating in more than one field, including enhancing Egypt’s role as a regional energy hub, the Vice President said.
