Khalda Petroleum Company (Apache) has successfully made three new oil and natural gas discoveries in its concession areas in the Western Desert. These discoveries are set to add approximately 12 million barrels of oil equivalent (mboe) in reserves, with 4 mboe deemed recoverable.
The discoveries reflect the Ministry of Petroleum and Mineral Resources’ (MoPMR) commitment to maximizing production rates and encouraging operating companies to increase exploratory drilling activities, highlighting the promising potential of Egypt’s energy sector,
The discoveries have been tested and evaluated, with daily production rates, reaching around 2,750 barrels of oil and condensates, and 20 million cubic feet (mmcf) of natural gas.
Khalda is currently assessing the volume of natural gas reserves linked to the new discoveries.
These discoveries are a significant outcome of Apache’s partnerships in natural gas exploration activities, alongside oil, particularly following the new price adjustment incentives.
As a result, Khalda’s natural gas production is expected to exceed 480 mmcf and will soon reach 500 mmcf per day.
Without this initiative, production had been on track to decline to 380 mmcf per day within six months.
