Rashid Petroleum (Rashpetco) and Burullus Gas Company’s natural gas total output reaches 405 million cubic feet per day (mcf/d) in FY 2020/21, the company’s chairman, Mohamed Samir, said.
This came during the general assembly meeting chaired by Minister of Petroleum and Mineral Resources, Tarek El Molla, via video conference, to review the company’s performance in FY2020/21, the ministry said in a statement.
The company further produced 9,600 barrels per day (b/d) of oil condensates, despite the challenges imposed by the Corona Virus Pandemic.
Rashpetco and Burullus Company is currently re-evaluating scattered reservoirs with low economic feasibility through maximizing the economics of wells.
The process is executed by targeting the application of manifold drilling technology to reduce the number of wells and complete many reservoirs. In addition, the company is reprocessing seismic data to be used in evaluating deep exploration layers with pressures and high temperatures to develop an exploration and production (E&P) plan for potential reservoirs in the Miocene layers, Samir noted.