Egypt’s oil production hits new record

The Egyptian Ministry of Petroleum achieved unprecedented record of curde oil production, which hit an average daily production of 707 thousand barrels.

According to an official from the Ministry, the reason behind this production increase lies in the ministry strategy to optimize production through the development of the current oil fields in the areas of Suez Gulf, Mediterranean Sea, Western and Eastern Deserts.

Compared to last year, the daily production has increased from 692 thousands barrels per day to 707 thousands bpd.

It is worth mentioning that Egypt’s top operators during 2008 were respectively Petrobel, GUPCO, Khalda, Agiba, GPC and Qarun.
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