Mohamed Samir, Chairman of Rashid Petroleum Company (Rashpetco) and Burullus Gas Company, announced that the companies have achieved an average production of 222 million cubic feet per day (mmcf/d) of natural gas and 4,000 barrels of condensates per day during the fiscal year (FY) 2023/24. 

This milestone was shared during the companies’ general assembly meeting, chaired by Minister of Petroleum and Mineral Resources, to approve the FY 2023/24 results. Samir highlighted efforts to optimize Burullus gas fields, particularly the Phase 9-B fields, which are essential to production.

Looking ahead, the Chairman noted that assessments for the Eleventh Phase have been completed, with drilling set to begin after Phase 10. The Tenth Phase is expected to add 160 mmcf/d of natural gas, while the Eleventh Phase is projected to contribute 150 mmcf/d, with a combined investment of $575 million.

Samir emphasized the company’s focus on Health, Safety, and Environment (HSE) and sustainable development, in alignment with the Ministry’s plans. Minister Karim Badawi stressed the importance of modern technology in enhancing production, praising the partnership with Shell and Petronas for overcoming challenges.

Dalia El Gabry, Vice President of Shell Egypt, acknowledged the ministry's support in reducing costs while ensuring safety and asset integrity, highlighting ongoing cooperation to accelerate project completion.