Badr Petroleum Company’s (Bapetco) oil production from Al Abyad natural gas field in the Western Desert increased to 140,000 BOE/D, according to Egypt Oil and Gas.
The company's CEO, Emad Hamdy, also recently announced that natural gas production increased to 515 MCF/D, while crude and condensates output rose to 47,400 B/D. Bapetco’s total production in January was 500 MCF/D.
The 4-14 OBJ field, recently discovered, is expected to produce 30 MCF/D of gas and 1,000 B/D of condensates in March 2017.
The company is in talks with its foreign partner Royal Dutch Shell since December on linking production for a new discovery at North Alam El Shawish concession, BTE-2 well, to the Badr-3 gas process facilities that are located 40km away from the well. Furthermore, there are ongoing discussions to dig a new well in the area of Neyag Field to increase oil production by 5,000 B/D.
Investments approved for fiscal year 2017/2018 are $321 million, and will include drilling eight exploratory and 24 development wells.
Bapetco is a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Royal Dutch Shell. Total production for the venture has increased in the last three years from 98,000 barrels of oil to 140,000 barrels.
