Khalda Petroleum injects $594mln in Egypt in 2020/2021: minister

The company’s total reserves reached around 21mln barrels of oil equivalent

  
A view of a gas plant seen from the desert road of Suez outside Cairo, Egypt September 1, 2020. Image used for illustrative purpose

A view of a gas plant seen from the desert road of Suez outside Cairo, Egypt September 1, 2020. Image used for illustrative purpose

REUTERS/Amr Abdallah Dalsh
 

Egypt - Khalda Petroleum Company (KPC) made four petroleum discoveries during fiscal year (FY) 2020/2021, according to a statement by the Ministry of Petroleum and Mineral Resources.

The company’s total reserves reached around 21 million barrels of oil equivalent.

KPC’s total investments reached $594 million, while the average daily output included 615 million cubic feet of gas, about 115,000 barrels of crude oil and condensates, and about 1,000 barrels of butane.

Khalda Petroleum drilled 34 wells and resumed the drilling of 106 wells, in addition to establishing pipelines for oil and gas with total lengths of 55 kilometres (km).

Work is underway for building new pipelines at Menis, Om Baraka, Barakat, and Aton with total lengths of 42 km.

Minister of Petroleum Tarek El-Molla said that the petroleum sector made major achievements in exploration, drilling, and development fields last year despite the challenges posed by the pandemic.

 

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