Mohamed El Meligy, the Chairman of Gemsa Petroleum Company (GEMPETCO), has stated that the total production of GEMPETCO and Zaafarana Oil Company (ZAFCO) reached 1.7 million barrels (mmbbl) during the fiscal year (FY) 2023/24.

The Chairman said that during the general assembly meeting of the two companies to approved its operational results for the FY 2023/24 in attendance of Alaa El Batal, the Chairman of Egyptian General Petroleum Corporation (EGPC), and other officials from the petroleum sector.

El Meligy added that the companies will drill two developmental wells, A-18 and A-19, during Q2 of FY 2024/25, in addition to repairing the wells of A-10, A-12, A-14 and A-16.

He stated that the companies successfully exploited the gas associated to the production process in an optimum way by using it in the process of generating electrical power needed for the field through gas generators instead of diesel generators, which has led to a significant saving in the cost of diesel consumption and has had an effective impact on reducing carbon emissions.

Additionally, he stated that the companies recorded 12 million hours without incidents and successfully completed the preparation of a static and dynamic model for the Zaafarana field for both the Rudis and Al-Karim reservoirs.

This study contributed significantly to updating and confirming the remaining petroleum reserves in the field, in addition to determining the locations of drilling new wells, whether developmental or exploratory, and the reserves that these wells could add.

He also explained that, in continuation of exploration efforts in the Zaafarana field, a re-evaluation and analysis of the seismic data in the Zaafarana field is currently underway, which will be used to evaluate the lower layers of the Primiocene reservoir, that could add new reserves of oil in the Zaafarana field.

Ihab Girgis, the representative of the partner Cheiron, has praised the continuous support of EGPC, adding that Cheiron is dedicating all its capacities to achieving the set targets. He also affirmed the continuation of development operations in both the Gemsa and Zaafarana fields and not stopping them despite all the challenges, pointing out the interest in energy reduction and social responsibility activities.

El Batal emphasized the importance of the company’s distinguished efforts, urging the continuous operation at this level. He also praised the role of the partners in the continuous support and their constant endeavor to increase production at GEMPETCO and ZAFCO, and their interest in implementing the ministry’s strategy of increasing production. This is in addition to applying all standards and measures of occupational safety and health and environmental protection, safe operation, energy reduction, and commitment to social responsibility.