New Wells in Burullus Gas Fields to Receive $575M in Investments

New Wells in Burullus Gas Fields to Receive $575M in Investments

Rashid Petroleum Company (Rashpetco) and Burullus Gas Company’s Chairman Mohamed Samir reviewed the status of developing their business strategy, which included the core values ​​and its health, safety and environment strategy and the achievement of more than 2.5 million working hours without injuries and lost time.

Samir highlighted the modernization of Burullus gas fields, especially the Phase-9B fields that make a main contribution to production. Samir further mentioned that Phase-10 and Phase-11 are set to have six development wells drilled with investments $575 million. The wells are planned to add around 300 million cubic feet of gas and 500 barrels of condensates to daily production.

The company’s achieved an average production of 235 million cubic feet of gas per day (mscf/d), an increase of more than 107%, in addition to producing over 4,000 barrels of oil condensates per day (bbl/d) during the year.

This came during the meeting to approve the plan and budget of the Rashpetco and Burullus Companies.

During the meeting, Minister of Petroleum and Mineral Resources Tarek El Molla highlighted the support for the existing and successful cooperation and partnership efforts between the petroleum sector and its partners Shell and Petronas, and their success in launching work in the tenth and eleventh phases.

El Molla pointed out the need to accelerate the implementation of development processes and put them on the production map at the specified times

The minister also praised the efforts provided by the Rashid and Burullus work team, whether in development operations and confronting the natural decline of wells or ensuring the continuous development of the safety system or improving production processes and energy efficiency or reviewing and evaluating all remaining opportunities in the work areas.

Dalia El Gabry, Vice President and Country Chair for Shell Egypt, expressed support for the plans of Rashpetco and Burullus in developing the work and production system and her pride in what was presented about the development in the field of safety and its implementation of operations at the highest level, commitment and efficiency. El Gabry highlighting Shell’s support for Egypt’s efforts to increase production and improve the business environment.

Meanwhile, Hany Esmat, CEO and Country Head of Petronas Egypt, praised what Rashpetco and Burullus achieved during the year 2023 in terms of achieving good business results and maintaining production rates without increasing costs.

Esmat pointed out Petronas’ commitment to its production plans and the concerted efforts led by the Ministry to increase production.

Sarah Samir 3471 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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