Rashid Petroleum Company (Rashpetco) and Burullus Gas Company’s Chairman Mohamed Samir stated that the companies have achieved average production of 222 million cubic feet per day (mmcf/d) of natural gas in addition to 4,000 barrels of condensates per day during the fiscal year (FY) 2023/24.
Samir shared this significant achievement during the companies’ general assembly meeting, chaired by the Minister of Petroleum and Mineral Resources, to approve the operational results for FY 2023/24.
For exploration and production operations, Samir said that they focused on upgrading and rebuilding the models of Burullus gas production fields to support a complete understanding of the reservoir characteristics and behavior as well as to determine the production strategy from them, especially the (Phase 9-B) fields, which contribute fundamentally to production.
As for the new opportunities (Eleventh Phase), the Chairman said that a comprehensive assessment of the reserves was conducted in cooperation with the partners, and the volumetric assessments and drilling plan were approved which will start immediately after the completion of the Phase 10 development project.
The production rates of Tenth Phase (three wells) are expected to reach 160 mmcf/d of natural gas, after overcoming the technical and commercial difficulties that faced the implementation of the project, by exploiting the available infrastructure and facilities.
This encouraged the partners (Shell and Petronas) to apply the same approach in the Eleventh Phase development project and accelerate its production at rates estimated at about 150 mmcf/d of natural gas, he added. The investments in the two phases are estimated at $575 million.
Additionally, Samir explained the company’s keenness to establish and consolidate the principles of Health, Safety and Environment (HSE), assets integrity and protection of the surrounding communities in line with the Ministry of Petroleum and Mineral Resources plan to achieve sustainable development.
During the meeting, Badawi stressed the importance of using modern technology in oil and gas exploration, development, and production activities, noting that the petroleum sector does not hesitate to bring in any modern technology that contributes to maximizing Egypt’s oil and gas production.
The Minister praised the results achieved through fruitful cooperation with partners Shell and Petronas, despite the challenges, and expressed a strong commitment to accelerating operations in the gas projects under the tenth phase of the West Delta Deep Marine (WDDM) development project.
He thanked and appreciated the company’s employees for their efforts, encouraging them to continue working hard in the coming period to expedite the production from the tenth-phase wells and to promptly begin the eleventh phase.
Dalia El Gabry, Vice President and Country Chair for Shell Egypt, expressed gratitude for Minister Badawi’s support in overcoming challenges and reducing costs without compromising safety or asset integrity. She emphasized the ongoing collaboration with Petronas to accelerate the completion of the tenth-phase development project and bring it into production. El Gabry also commended the ministry’s incentive program, highlighting its importance.
