GPC to Produce 6,000b/d of Crude Oil in 2017

GPC to Produce 6,000b/d of Crude Oil in 2017

The General Petroleum Company’s (GPC) Production Manager, Ahmed El Gedawy, stated to Egypt Oil&Gas that the company has set a new plan to raise its production rate during 2017. GPC is seeking to reach nearly 6,000b/d of crude oil after making two new discoveries of crude oil and gas in North Amer field in the Gulf of Suez as well as in North Ras Al Behar field in the Eastern Desert during the first half of fiscal year 2016/2017.

Accordingly, the company will evaluate the results soon.

El Gedawy also added that the company is willing to start drilling new development wells during the current fiscal year, after obtaining the approval of  the Egyptian General Petroleum Corporation (EGPC). He also mentioned that the company successfully drilled a new well NES-1X in the Western Desert. GPC’s current production is 66,5000 boe/d of oil and condensate and natural gas.

In addition, the company further plans to execute a number of programs to develop the infrastructure and the discovered reserves, providing facilitation both on land and offshore.

Mahinaz El-Baz 312 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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