Badr El Din Petroleum (Bapetco)’s CEO, Emad Hamdy, stated that the company’s production has reached an estimated 500mcf/d of natural gas, reported Amwal Al Ghad. Hamdy added Bapetco’s natural gas production covers huge parts of local market’s demands.
Bapetco is the joint venture between the Egyptian General Petroleum Corporation (EGPC) and Royal Dutch Shell. The joint venture had increased its total production within the last 3 years from 98,000 barrels of oil equivalent to be 140,000 barrels.
Hamdy explained that the company aims to further boost the current production rate as a continuation of the exploration processes and discoveries in its concession areas. In addition, Bapetco’s recent discovery, BTE-2, would raise the company’s total production once it starts producing within the coming period.
In related news, an official with BAPETCo had stated to Egypt Oil&Gas that the company has rented the services of two new 1,500-horespower rigs. This brought the total number of rigs employed by BAPETCo to four, in an attempt to execute the company’s extensive drilling strategy.