Khalda Petroleum Company (Apache) has successfully made three new oil and natural gas discoveries in its concession areas in the Western Desert. These discoveries are set to add approximately 12 million barrels of oil equivalent (mboe) in reserves, with 4 mboe deemed recoverable.
The discoveries reflect the Ministry of Petroleum and Mineral Resources’ (MoPMR) commitment to maximizing production rates and encouraging operating companies to increase exploratory drilling activities, highlighting the promising potential of Egypt’s energy sector,
The discoveries have been tested and evaluated, with daily production rates, reaching around 2,750 barrels of oil and condensates, and 20 million standard cubic feet (mmscf) of natural gas.
Khalda is currently assessing the volume of gas reserves linked to the new discoveries.
These discoveries are a significant outcome of Apache’s partnerships in gas exploration activities, alongside oil, particularly following the new price adjustment incentives.
As a result, Khalda’s natural gas production is expected to exceed 480 mmscf and will soon reach 500 mmscf per day.
Without this initiative, production had been on track to decline to 380 mmscf per day within six months.
The post Khalda Petroleum Company Makes 3 Oil, Gas Discoveries first appeared on Egypt Oil & Gas.
Recent Comments