Khaleda Petroleum Company has achieved unprecedented record numbers in its history during the last fiscal year, where the company recorded the highest daily crude oil production rate of more than 141,000 barrels last April and the highest annual crude oil production rate of more than 49 million barrels, Egypt Oil & Gas reports.

According to Khaled Mowafi, General Manager of Khalda Petroleum, Khalda’s production over the past 34 years amounted to approximately 1 billion barrels of crude oil and condensate and 5 trillion cubic feet (tcf) of gas.

Muwafi said that, in continuation of the company’s outstanding performance in its exploration and production (E&P) activities, more discoveries have been achieved during the last fiscal year, which is the culmination of the employees’ efforts and the reflection of the ministry’s support.

Among the distinctive discoveries that were made are the exploration of West Qasr – × 1, West Heronifer – 6X, Southeast Mansour – 1X, North Tango – 1X, and Pironi – 1X.

Mowafi explained that the 3D seismic survey for the West Kalabsha area has been completed on a total area of 1,800 km2, in addition the 65% of the 3D seismic survey for the Shushan basin has been implemented on a total area of 2,150 km2.

Mowafi pointed out that during the current fiscal year, 43 wells have been drilled to develop proven reserves and confirm potential reserves, including 36 oil producing wells and 4 gas producing wells. In addition, 160 repair and refurbishment operations were carried out, including 64 oilfield and 12 natural gas operations, in addition to drilling and completing 27 exploration wells.

Khaleda Petroleum Company has increased its production rates during the fiscal year (FY) 2018/2019 to 162,000 barrels of crude oil and condensate per day, about 752 million cubic feet (mcf) of natural gas, and about 1700 barrels of butane.

He explained that $667 million of investments have been spent and 16 oil discoveries have been achieved with a success rate of up to 80%, which contributed to the addition of an estimated 28 million barrels of crude oil.