Badr El Din Petroleum Company’s (BAPETCO) production increased to 120 barrels of oil equivalent per day (boe/d) during fiscal year (FY) 2017/18, Egypt Oil & Gas reports.
Company head Alaa El Batal revealed to petroleum minister Tarek El Molla during the company’s general assembly that BAPETCO produced an average 37,000 barrels per day (b/d) of crude oil in the previous fiscal year – its highest production rate in two-and-a-half years.
El Batal stated that the company’s Karm-9 natural gas well, located in Alam El Shaweesh concession, is the most successful gas-producing well in the history of the company. It produced 60 million standard cubic feet per day (mscf/d) in FY 2017/18, adding 35 billion cubic feet (bcf) of natural gas to reserves. Following this success the company is planning to drill more wells in the same area.
The company added 36 million boe to proven reserves in the previous fiscal year after it drilled 36 development and exploratory wells.