Cairo – Mubasher: Badr El Din Petroleum Company (Bapteco) made eight new discoveries with a confirmed reserve of about 10.6 million barrels of oil equivalent in fiscal year 2019/2020.
A total of 44 development wells and one exploratory well have been drilled, while 115 wells have been repaired during the 12-month period ended on 30 June, the company’s Chairman, Salah Abdel Karim, said in a statement on Monday.
This brings Bapteco’s total production to about 114,000 barrels of oil equivalent per day, including more than 38,000 barrels of crude oil and condensates per day, he added.
In addition, the natural gas sales reached 423 million of cubic feet per day.
As part of the ongoing spending rationalisation plan, the company saved about $24 million.
This came during the ordinary general meeting (OGM), headed by the Minister of Petroleum, Tarek El-Molla, which was convened to approve the financial results of FY19/20.
