Belayiem Petroleum Company (Petrobel) total production reached 93 million barrels of oil equivalent per day (mboe/d) in fiscal year (FY) 2020/21, Khaled Mowafy, the company’s chairman, said.
This came during the general assembly chaired by Minister of Petroleum and Mineral Resources, Tarek El Molla, to review the company’s performance in 2020/21, the ministry said in a statement.
Meanwhile, Petrobel’s total investments reached $672 million during the FY.
The company’s output was divided into 944 million cubic feet (mcf) of natural gas, 68,000 barrels of crude oil, and 11,000 barrels of condensates. Moreover, Petrbel produced 285 tons of butane daily, Mowafy noted.
Mowafy referred to the success of the company’s exploration activity in adding new reserves in the Nidoko and El Qara fields through the two exploration wells Nidoko Northwest-1 and El Qara Northeast-1.