The General Petroleum Company (GPC) aims to drill 15 exploration and development wells in H2 of fiscal year (FY) 2020/21, according to the General Trade Union for Petroleum Workers.
The company will drill five wells in the Eastern Desert divided into three development wells and two exploration wells, in addition to 10 wells in the Western Desert divided into six development and four exploration wells.
The company drilled 18 development wells during H1 2020/21. Nine of them were in the Eastern Desert and nine in the Western Desert. The company’s total expenditures on the drilling programs during H1 of FY 2020/21 amounted to about EGP 1 billion. It should be noted that the company’s target average daily production in 2021 is about 64,000 barrels (bbl) of crude oil.