Badr El-Din Petroleum Company (Bapetco) drilled 15 new wells using nine rigs in the first half (H1) of Fiscal Year (FY) 2025/2026. This resulted in production of an average of 49,000 barrels of oil equivalent per day (boe/d), 171 million cubic feet of gas per day (mmcf/d), and 18,500 barrels of condensate per day (bbl/d), according to Chairman Khaled Abdelsalam.
The company plans to raise production in FY 2026/2027 to 60,000 boe/d, 195 mmcf of gas, and 25,000 barrels of condensates, through drilling 37 development and exploration wells with investments estimated at $315 million, he added. There are currently preparations to drill two new exploratory wells (BED-15 West-A and BED-16-C6 West-A) in May, according to Abdelsalam, who outlined a five-year strategy to maximize reserves, including horizontal wells in the Obayed area with multi-stage hydraulic fracturing.
This came during the general assembly meeting of Bapetco, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and its investment partners Cheiron and Capricorn Energy, to review its results during the last period.
Abdelsalam, speaking via video conference, described the agreement to merge eight separate Western Desert concessions into a single integrated contract as a turning point for expanding exploration and speeding up production.
During the meeting, David Chi, CEO of Cheiron, commended the efficiency of work teams and pointed to promising reserves and opportunities. He confirmed plans to accelerate drilling and expand the use of horizontal drilling and hydraulic fracturing, alongside strengthening safety systems.
Eleanor Rowley, Managing Director of Capricorn Energy Egypt, also praised the ministry’s efforts in settling partner dues and offering investment incentives, which support expanded gas drilling in 2026/2027 using modern technologies.
The government has been working to settle all outstanding arrears to International Oil Companies (IOCs) by June. The dues stood at $714 million at the end of April, down from $6.1 billion in June 2024.
As he chaired the meeting, Karim Badawi, Minister of Petroleum and Mineral Resources, emphasized the importance of expanding the use of modern technology and unconventional methods in exploration and drilling.
He noted that such approaches are key to unlocking untapped oil and gas potential in the Western Desert. Badawi highlighted that overcoming challenges, creating an attractive investment climate, and ensuring timely payments to partners are vital incentives for boosting production and accelerating exploration.
The minister praised recent exploration results in Badr El-Din (BED) areas, stressing the role of horizontal drilling, hydraulic fracturing, and advanced seismic surveys in maximizing resource recovery and reducing risks.
Regarding advancing clean energy projects, Bapetco has implemented four solar projects with a combined capacity of 300 kilowatts (KW), including Egypt’s first well using solar-powered ESP artificial lift. Plans are underway to cover 20% of Cairo headquarters’ energy needs with solar power and to study a 5 megawatt (MW) solar plant in the BED area. The company continues to uphold ISO certifications in safety, environment, quality, and energy efficiency, while enhancing asset performance and operational reliability.
In respect of digital transformation, the company trained 65 employees in AI applications and three machine learning prototypes developed to support operations.
