Cairo – Mubasher: The production rate of General Petroleum Company (GPC) jumped to 57,000 barrels of oil equivalent (BOE) per day for the first time since the establishment of the company, GPC told Al-Masry Al-Youm newspaper.
Production rates rose on the back of the new discoveries, NES-5 and NES-7, GPC said, revealing that the company is implementing an exploration and development programme to reach an output exceeding 60,000 BOE per day by the end of 2017.
Egypt’s minister of petroleum Tarek El-Molla had previously said in July 2017 that the petroleum sector’s strategy to develop natural gas fields, including Zohr, Northern Alexandria, and Noras, will raise natural gas output by 50% during 2018 and by 100% in 2020, and will contribute to achieving Egypt’s self-sufficiency in natural gas by the end of 2018.
