In attendance of EGPC Chairman Salah Abdel Kerim, South Abu Zenima Petroleum company (PetroZenima) and Malek Petroleum Company (PetroMalek) held their general assembly, discussing the plans for the fiscal year (FY) 2025/26.
Osama Al-Baghdadi, Chairman and Managing Director, reviewed the work carried out during the previous six months, which reflects the company’s keenness to maintain production rates of 1,050 barrels of oil per day (bbl/d) by completing the necessary maintenance work for all surface and subsurface equipment, and maintaining safe rates on the MOPU production unit for H2S gas through chemical treatments in cooperation with the Petroleum Research Institute.
He also showed what the company has achieved in the field of occupational safety and health and the field of operational safety of 3,500 working days without any injuries or accidents (LTI).
The two companies’ business plan for the fiscal year 2025/2026 was also reviewed, in terms of drilling the appraisal well (1-NWSAZ) during the FY 2025/2026. If successful, the possibility of connecting it to the Muzhil offshore platform will be studied, with an expected production capacity of 2,000 b/d in April 2026.
As for PetroMalek, he confirmed that the company is in the process of working on a joint project with Esh El Mallaha Company (ESHPETCO) to obtain modern seismic data during the coming years to improve the overall picture of the seismic data and reduce the percentage of potential risks in these structures as well as re-evaluate the geological structures present in the PetroMalek field in a detailed and precise manner.
The exploratory well NEWEEM 1 is planned to be drilled during the next fiscal year and will depend on the results of the planned 3D seismic survey.