Page 9 - AfrOil Week 37 2021

AfrOil INVESTMENT AfrOil

“Right now, no oil has been found,” he was
quoted as saying by New Era. “Only when it is
found, then we can enter an agreement with the
company ... We could consider that if and when
the oil is found.”
In any event, Alweendo remarked, building
an oil-processing plant is not a surefire way to
bring fuel prices down. “It does not mean when
we have a refinery here, we will have a cheaper
product,” he declared.
ReconAfrica is working with NAMCOR,
the national oil company (NOC) of Namibia, to
explore the PEL 73 licence area in the Kavango
basin. The two companies signed a joint operat- The PEL 73 licence area is in the Kavango basin (Image: ReconAfrica)
ing agreement (JOA) earlier this year, not long
after ReconAfrica reported that it had found since the beginning of 2021, as its first explora-
evidence of a working conventional petroleum tion well – 6-2, drilled 16 km to the south – also
system in 6-1, its second exploration well at PEL contained a working conventional petroleum
73. This marked ReconAfrica’s second discovery system. ™

PERFORMANCE
Badr-1 field’s production hits

1.5mn boe in FY 2020/2021

EGYPT BADR-1, a field assigned to Badr Petroleum expansion of exploration work as a means of
Company (BAPETCO) in Egypt’s western enhacing the company’s contribution to Egypt’s
desert, saw total production reach 1.5mn bar- energy self-sufficiency efforts
rels of oil equivalent (boe) during Fiscal Year BAPETCO has also been striving to inte-
2020/2021, which ended in June. grate projects carried out on site to increase the
During the same period, the company drilled capacity of its production and storage facilities.
six new wells at Badr-1, thereby raising the field’s These also serve a number of other production
reserves to about 17.25mn boe. companies in the Western Desert, and the com-
These efforts were in line with the mission pany has been working to integrate infrastruc-
of the company, which is under strong pressure ture in the region for the purpose of optimising
from Egypt’s Petroleum Ministry to step up production.
research and exploration activities and to drill The company is fully state-owned. Its asset
new exploration wells in order to increase pro- portfolio also includes the Allam El-Shawish,
duction rates. Amreya, Assil/Karam, Badr-3, Neag-1 and
The ministry has indicated that it views an Obaiyed sites. ™

Storage facility at Neag-1 site in Egypt’s Western Desert (Photo: BAPETCO)

Week 37 15•September•2021 www. NEWSBASE .com P9