The Chairman of Badr El Din Petroleum company (BAPETCO), Salah Abdel Karim said that the production rates of his company during the fiscal year (FY) 2019/2020 reached 114,000 barrels of oil equivalent per day (bbloe/d) including more than 38,000 barrels of crude oil and condensates per day as well as 423 million cubic feet of natural gas per day (mcf/d), according to a press release.
Abdel Karim’s announcement came during the company’s general assembly meeting to approve the annual results, which was headed by the Minister of Petroleum and Mineral Resources, Tarek El Molla.
Abdel Karim added that these results were reached after eight new discoveries with proved reserves estimated at 10.6 million bbloe in addition to drilling 44 developing wells and repairing 115 others in addition to an exploratory well.
He pointed out that the company saved about $24 million through its expenditures reduction strategy.
For his part, El Molla asserted the importance of giving the priority to health, safety and environment (HSE) and providing safe environment to the employees.
Additionally, he highlighted the importance of giving youth the opportunity to participate with the incumbent leaders in making decisions noting that there is a need for more efforts to face the normal lack of wells, increase the production and reduce costs.