TransGlobe Energy Corporation produced 12.2 million barrels of oil equivalent per day (boe/d) in Egypt during the third quarter of 2017, Egypt Oil & Gas reports.
The company announced that the total production dropped due to “delays in well servicing in Egypt during August/September and shut-in Canadian gas production during September due to low spot gas prices at AECO.”
The company sold domestically 443,000 barrels of the oil it lifted in the month of September. It also sold 350,000 barrels of inventoried oil to the Egyptian General Petroleum Corporation (EGPC) for approximately $14.9 million, causing its Egyptian inventories to fall to less than a million barrels as of September 30th.
The company received approval for three development leases at the North West Gharib Concession last month. It plans to drill up to four new wells in the Eastern Desert.
TransGlobe is a Canadian oil and gas exploration and development company that operates in Egypt and Canada.