Page 7 - AfrOil Week 35 2021

AfrOil PERFORMANCE AfrOil

Agiba Petroleum Co. reports on

oil, gas output in FY2020/2021

EGYPT AGIBA Petroleum Co. saw average production mcm) per day capacity. When finished, the facil-
of natural gas reach 17mn cubic feet (481,386 ity will be able to process around 150 mcf (4.25
cubic metres) per day during FY2020/2021, mcm) per day of gas and about 10,000 bpd of
while average crude oil production amounted to crude oil. ™
40,000 barrels per day (bpd), according to data
released by Egypt’s Petroleum Ministry.
In a statement, the ministry said Agiba had
added around 6mn barrels of crude oil and
4.2bn cubic feet (119 mcm) of natural gas to its
recoverable reserves during the same period. It
did so after making $269mn worth of invest-
ments during the fiscal year, the statement said.
The company also recorded $27.5mn in sav-
ings during the fiscal year as a result of the use
of modern technologies and designs in drilling
operations, as well as alternative solutions. These
changes served to increase equipment efficiency,
it said.
Looking ahead, Agiba Petroluem’s project
pipeline includes the start of the construction
of a gas processing plant with a 180 mmcf (5.1 Agiba made $269mn worth of investments in the last fiscal year (Photo: Mubasher)

Pharaonic Petroleum extracted

4.58 bcm of gas in FY2020/21

EGYPT PHARAONIC Petroleum Co. (PhPC), a joint Together, these wells have helped boost PhPC’s
venture between BP (UK) and the state-owned total gas production by some 160mn cubic feet
entity known as Egyptian Natural Gas Holding (4.53mn cubic metres) per day since December
Co. (EGAS), saw its total natural gas output hit 2020. ™
162bn cubic feet (4.58bn cubic metres) dur-
ing FY2020/2021, chairman Essam Eldeen El
Agrawy stated during the company’s general
assembly.
According to El Agrawy, the company’s pro-
duction levels exceeded the target in the past
fiscal year, which ended in June. He also stated
that the company’s output of gas condensates
had reached 3.3mn barrels, or about 9,040 bar-
rels per day, in FY2020/2021.
PhPC did not spare any efforts in decreas-
ing the natural decline in production and suc-
ceeded in levelling daily output. It also boosted
the efficiency of its West Harbour gas processing
facility, which helped to keep production levels
mostly stable.
The company has also pressed ahead with
its drilling plans during the past year, complet-
ing work on the Atoll-4 and Kattameya wells. Foundation support structure at PhPC’s Qattameya gas field (Photo: BP)

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