Ashraf Abdel Gawad, Chairman of Badr El Din Petroleum Company (Bapetco), announced that the company achieved production rates of over 67,000 barrels of oil equivalent per day (boe/d), including 217 million cubic feet of natural gas and 28,000 barrels of oil and condensates during the fiscal year 2023/24. This was revealed during the general assembly meeting chaired by the Minister of Petroleum and Mineral Resources to approve the company’s operational results.

Bapetco invested $295 million during the fiscal year, with key projects including re-processing seismic data for an area of 2,000 square kilometers and drilling five exploratory wells, three of which were successful. The company also connected 20 wells to production lines and executed an extensive maintenance program.

Additionally, the company made significant progress in reducing environmental impact, cutting CO2 emissions by approximately 18,000 tons and minimizing flare gas emissions. Projects to utilize flare gas economically and transition to renewable energy at the Niaj and Alam El-Shawish sites are ongoing.

The Minister highlighted the importance of increasing drilling activities and leveraging modern technologies to overcome natural production declines in the Western Desert.