Khalda Petroleum Company plans to drill 28 exploratory wells in fiscal year (FY) 2018/2019, including three wells in Siwa Concession, said Khaled Mowafi, Head of Khalda Petroleum, Egypt Oil & Gas reports.

The company plans to conduct a seismic survey on West Kalabsha and Shoshan blocks, Mowafi pointed out during the general assembly chaired by Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, to review the firm’s budget plan.

Khalda Petroleum’s average output is planned to reach around 129,000 barrel per day (b/d) of crude oil, 26,800 b/d of condensates, 1,500 b/d of butane, and 820 million standard cubic feet per day (mscfd) of natural gas.

The company made seven petroleum discoveries during the first half of FY 2017/2018, which were drilled with 70% success. It further completed a 3D seismic survey on West Kalabsha blocks, Mowafi stated, adding that the company drilled 24 development wells to boost production and reserves, and plans to complete the first phase of Kalabsha, second phase of Ptah, and development of Menis field.