Badr Eldin Petroleum Company (BAPETCO) has brought online 39 new oil wells for the fiscal year (FY) 2018/19, with a production rate estimated around 6700 b/d crude oil, and 23 mcm/d of natural gas, a press release said on September 13.
According to the company’s portfolio, presented by the BAPETCO head, Salah Abdul Karim to Minister of Petroleum and Mineral Resources Tarek El Molla, BAPETCO has increased the number of its rigs to seven, digging 53 wells ranging from exploratory to developmental ones. This has increased the production to over 124,000 b/d of oil equivalent in FY 2018/19.
Abdul Karim said that his company implemented a comprehensive reform plan to upgrade the drilling and exploration performance, reiterating that BAPETCO applies the latest technologies, especially with regards to deep oil wells that require high technology to maximize its benefits financially wise.
The BAPETCO has also begun 3D seismic survey at the company’s acquisition in the Western Desert which covers an area with the total size of 2000 km, with an investment of $20 million. Such performance has catalyzed BAPETCO, the Royal Dutch Shell’s Joint Venture to invest in the domestic petroleum sector.