BAPETCO achieves highest oil and gas production rate in 15 years

Badr El-Din Petroleum Company (BAPETCO) achieved the highest rates of oil and gas production in 15 years, where production reached 514m cubic feet last week, and 51,000 barrels of crude oil daily.

Emad Hamdy, chairman of BAPETCO, told Daily News Egypt that the company increased the production of natural gas to nearly 514m cubic feet per day, compared to 460m cubic feet during fiscal year (FY) 2014/2015, in concession areas affiliated to the Dutch company Shell.

He added that crude oil production increased to 51,000 barrels per day compared to 43,000 barrels during FY 2014/2015.

Hamdy noted that BAPETCO plans to keep its production rates of gas and oil by drilling development wells in order to compensate for the natural decline rates in the productivity of fields.

He pointed out that Shell has about $415m worth of investments during FY 2015/2016 in its concession areas in Egypt, to implement the processes of developing research and exploration fields, to increase the rates of oil and natural gas production.