In Africa, oil producers are increasing efforts to increase their annual production. In this context, Egypt, ranked fifth oil producer according to Trading Economics, recently managed to increase its daily production.
Indeed, according to a press release from the Ministry of Petroleum and Mineral Resources dated this Friday, November 29, 2024, the Egyptian General Petroleum Corporation (EGPC) managed to put two new offshore wells into operation.
These will make it possible to produce around 1,000 additional barrels per day. Last year, Egypt produced 565,000 barrels per day (bbl/d).
Consequently, this new contribution will significantly strengthen the country’s oil resources.
Furthermore, Ghareb Well 277, a third well, is currently being drilled, which augurs a further increase in production in the short term.
An increase in oil production thanks to state support
This Friday, the Minister of Petroleum and Mineral Resources, Karim Badawi, supervised the drilling work of the “Ghareb Well 277” well.
This inspection was also an opportunity for the minister to discuss with the teams innovative ideas and modern technologies that could intensify drilling work.
Furthermore, the minister reviewed the number of drilling rigs required to fully exploit the area while emphasizing the rationalization of expenses so as not to compromise the production process.
He also discussed the optimal management of oil reservoirs using mechanisms adapted for sustainable exploitation.
EGPC President Mohamed Abdel Meguid thanked the Ministry of Oil for its support. He said it was thanks to this that the General Petroleum Company was able to increase its production.
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