The Minister of Petroleum and Mineral Resources, Tarek El Molla, has issued new transfers among the petroleum companies to support the petroleum sector with the necessary capabilities and achieve future goals.

The Minister of Petroleum and Mineral Resources, Tarek El Molla, issued a new round of transfers within the General Administrative Affairs’ managers and assistants in the petroleum sector’s companies in his endeavor to support the sector with the necessary competencies.

Atoll field’s production increased by 28% from 250 million cubic feet of natural gas per day (mmcf/d) to 320 mmcf/d during fiscal year (FY) 2019/20.

Agiba Petroleum Company and Pharaonic Petroleum Company (PHPC) both announced to boost their investments during Fiscal Year (FY) 2020/21.

Agiba Petroleum Company has increased its crude oil production to nearly 45,000 barrels per day (b/d) from its fields in the Western Desert and the Gulf of Suez, a source at Agiba Petroleum said to Amwal Al Ghad newspaper.

Agiba Petroleum Company (APC) raised crude oil production rates to 44,000 barrel a day (b/d) and around 18,4 million cubic meters per day mcm/d of natural gas in the fiscal year (FY) 2018/19, a press release by the ministry of petroleum pointed out.

The recent discoveries in the Western Desert confirms that this region still has undiscovered resources, which will encourage international oil companies (IOCs) to increase their exploration and production (E&P) investments in the deep layers in sedimentary basins, the minister noted.

Agiba Petroleum Company is producing between 48,000 and 50,000 barrels of crude oil per day (b/d), around 20 million standard cubic feet per day (mscf/d) of natural gas, and around 50 tons of butane per day.

Italy’s Eni and Russian Lukoil will work with the Egyptian General Petroleum Corporation (EGPC) to build a natural gas processing facility in Egypt’s Western Desert.

Agiba has drilled new explanatory well Rosa N 1X in its Meleiha concession area in Western Desert. The new discovery will increase Egypt's oil reserves, especially after discovering an oil tank on a new layer in Ras El Qatara, that has not been reached before.