Rashid Petroleum Company/Burullus Gas Company (Rashpetco) has achieved its production target for the first half of fiscal year (FY) 2017/2018, reaching 684 million standard cubic feet per day (mscf/d) of natural gas, Rashpetco’s Head, Hisham Al-Attar, stated, during the general assembly chaired by Minister of Petroleum and Mineral Resources, Tarek El Molla, to review the company’s budget plan, Egypt Oil & Gas reports.

Rashpetco is preparing to start the development and production of Burullus concession, in West Delta deep water, as the company plans to start producing from two natural gas wells during the third quarter of 2018, El Atar pointed out.

International oil companies (IOCs) are pumping investments and increasing activities in Egypt’s oil and gas projects, which reflects their trust in the ministry’s steps to boost performance and create an investment climate that is suitable for petroleum schemes, El Molla stated.

Rashpetco is a joint venture between Shell and the Egyptian General Petroleum Corporation (EGPC).