Minister of Petroleum and Mineral Resources Tarek El Molla has met with a delegation from Canada’s Mediterra Energy Corporation, headed by the company’s CEO and President Memet Kont.

The meeting reviewed the company’s activities in Egypt and its work plans to raise crude oil production rates from its concession areas in Sinai and Kom Ombo within the framework of the work strategy implemented by the oil and gas sector to improve and increase petroleum production rates.

During the meeting, the company’s delegation reviewed the status of its work in the Kom Ombo concession areas (Al-Baraka and West Al-Baraka), and the Sidr, Matarma and Assal areas in Sinai in partnership with the General Petroleum Company (GPC). It also discussed its activities for developing and producing crude oil, which have achieved positive results recently.

The company has succeeded in reaching production to more than 22,000 barrels per day (bbl/d) during the current year in light of the intensive drilling program it is implementing at a rate of drilling eight wells per month, bringing the company’s total producing wells to 64 wells.

Mediterra’s delegation pointed out that it is targeted to reach the total production to more than 26,000 barrels per day and the number of producing wells to 100 wells by the end of 2024.

The company delegation explained that it took over its concession areas in 2017 with only four producing wells and a total production of 150 barrels per day. It succeeded in improving production and achieving outstanding rates, and that it relies entirely on Egyptian cadres to plan, implement and manage all its activities in Egypt.

During the meeting, El Molla praised the Canadian company’s commitment to its work in Egypt and its achievement of remarkable performance rates in its areas of operation.