Mwafi: Petrobel Production Exceed 90 mln barrels last year

Published on : 2023-09-18

Khaled Mowafi, Chairman of Belaim Petroleum Company (PETROBEL) announced that his company produced oil, natural gas, butane, and condensates of 93 million barrels of oil equivalent (mmboe) during the fiscal year 2022/23.

This came during the general assembly meeting of Petrobel headed by the Minister of Petroleum and Mineral Resources, Tarek El Molla, to approve annual operational results for FY 2022/23.

He added that the total investments of the company in the field of exploration and development amounted to about $737 million. Petrobel drilled a number of wells including South Qaraa-1 which was put on stream in February 2023 with an average production rate 9 million cubic feet per day (mmcm/d) in addition to 100 barrels of condensates with total reserves estimated at 2 mmboe.

Mowafi noted that Petrobel succeeded in implementing a group of projects to preserve production rates of crude oil including the establishment of two offshore pipelines to connect the offshore production platforms to Petrico facilities in addition to another one which is under execution.

Related Articles

Suez Canal Economic Zone, Shell talk cooperation on green hydrogen projects

Chairman of the General Authority for the Suez Canal Economic Zone, Walid Gamal El Din, concluded his visit to the Kingdom of the Netherlands, after holding extensive meetings with major international companies operating in the maritime transport and port sectors, and ship bunkering activities with traditional and green fuels.

Read More

Egypt firm signs deal with Jordan’s first gas-run industrial zone

An Egyptian company will supply natural gas to the first industrial zone to be run by gas in Jordan under an agreement signed recently

Read More

Egypt approves GASCO project to increase capacity of Western Desert Gas Complex

Cabinet approves GASCO project to increase capacity

Read More
Wintershall Deaneptune LogoSIEnppipetrojetTransGlobe SCHNEIDER-ELECTRIChempleEgypt gasNorthAlmansooriSKY CTS exxonmobilSchlumberger