Latest news with #KhaldaPetroleum
Zawya
13-06-2025
- Business
- Zawya
Egypt: Khalda Petroleum to bring 2 new wells into production in June
Arab Finance: Khalda Petroleum plans to bring two new wells into production in June 2025, with an initial estimated total of 5,400 barrels of crude oil per day (bbl/d), according to a statement. This is part of the first axis of the Ministry of Petroleum and Mineral Resources' strategy to accelerate exploration and production activities, while boosting domestic crude oil and natural gas production to meet the citizens' needs. Khalda completed drilling operations for the Fox Deep-02 appraisal well, which unveiled oil-bearing layers in both the Alam El-Bueib and Alamein reservoirs, with the oil-bearing layer reaching a thickness of 110 feet. Initial test results from the Alam El-Bueib layer showed a production rate of nearly 2,600 bbl/d of crude oil. Meanwhile, the technical tests and the installation of an artificial lift pump are scheduled to be finalized, preparing the well for production during this month. Khalda Petroleum also completed drilling operations for the Tayim-W14 development well, targeting the Dessouky layer in the upper part of the reservoir. The results revealed an oil-bearing layer with a thickness of 57 feet, with preliminary test results showing a production rate of approximately 2,800 bbl/d of crude oil. The well is expected to be put into production this June after completing the tests and pump installation. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
14-04-2025
- Business
- Zawya
Egypt: Khalda Petroleum discovers 3 new crude oil, gas reserves in Western Desert
Arab Finance: Khalda Petroleum, in collaboration with its partner Apache, has made three new crude oil and gas discoveries in its concession areas in Egypt's Western Desert, the Egyptian Ministry of Petroleum and Mineral Reserves announced in a statement. The discoveries, which will contribute approximately 12 million barrels of oil equivalent to reserves, include 4 million barrels of oil equivalent in recoverable reserves. Following extensive testing and evaluation, the discoveries are currently producing around 2,750 barrels of oil and condensates daily, alongside 20 million cubic feet of gas. Khalda is in the process of calculating the associated gas reserve. These discoveries come on the heels of the implementation of new price adjustment incentives, which will help elevate Khalda's gas production to over 480 million cubic feet daily, with expectations to reach 500 million cubic feet shortly. Without this initiative, Khalda's gas production would have been expected to fall to 380 million cubic feet within the next six months. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
11-02-2025
- Business
- Zawya
Apache to boost Egypt's natural gas production with $60mln drilling plan in March
Egypt - The US company Apache will launch an intensive drilling program in Egypt's Western Desert in March, aiming to add 80 million cubic feet of natural gas per day to its production with investments exceeding $60 million, an unnamed government official told Asharq Business. Apache plans to invest $3.5 billion in Egypt over the next five years for exploration and production in its concessions in the Western Desert, the official revealed. The American company intends to raise its natural gas output in Egypt from the current 450 million cubic feet per day to 500 million cubic feet by the end of fiscal year (FY) 2024/2025. The Egyptian government is working to secure sufficient gas supplies to meet rising domestic demand, particularly for the electricity sector during the summer. In 2024, it resorted to purchasing liquefied natural gas shipments to compensate for a production shortfall during peak months. Apache's fields in the Western Desert currently produce over 220,000 barrels of oil equivalent per day, including crude oil, condensates, and natural gas. The company increased its crude oil production in FY 2022/2023 from 113,600 barrels per day to 121,000 barrels, excluding condensates, due to significant investments of $1.3 billion that year in exploration and field development. Apache operates in partnership with Khalda Petroleum, its Egyptian counterpart, which oversees operations in the company's concession areas in the Western Desert. Egypt is relying on Apache and Italy's Eni to help boost the country's gas production and regain self-sufficiency. The government has agreed to settle overdue payments with the companies to encourage them to continue exploration and field development operations. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
