Badr Petroleum Chairman, Ashraf Abdel Gawad, stated that the company’s 2023 production reached 78,000 barrels of oil equivalent (boe).

The company seeks, in cooperation with partners, to achieve more discoveries and increase production rates, he elaborated.

This came during the company’s general assembly, attended by Minister of Petroleum and Mineral Resources, Tarek El Molla, via video conference.

During the meeting, El Molla highlighted the importance of intensifying drilling programs, expanding the company’s various activities, and exploiting all available facilities to maintain production rates; in addition to confronting the natural decline of aging wells through the use of the latest technologies.

El Molla further stated the importance to continue constructive cooperation with partners and work together to overcome these challenges by developing unconventional plans and solutions that contribute to increasing production rates of oil and gas.

Abdel Gawad reviewed the most important business results achieved during fiscal year 2022/23. He pointed out the company’s efforts to reduce flame gases and reduce emissions. He also  highlighted its constant keenness to implement all occupational safety and health procedures as well as preserve the environment to provide a safe working environment.