
Egypt: Khalda Petroleum discovers 3 new crude oil, gas reserves in Western Desert
The discoveries, which will contribute approximately 12 million barrels of oil equivalent to reserves, include 4 million barrels of oil equivalent in recoverable reserves.
Following extensive testing and evaluation, the discoveries are currently producing around 2,750 barrels of oil and condensates daily, alongside 20 million cubic feet of gas. Khalda is in the process of calculating the associated gas reserve.
These discoveries come on the heels of the implementation of new price adjustment incentives, which will help elevate Khalda's gas production to over 480 million cubic feet daily, with expectations to reach 500 million cubic feet shortly.
Without this initiative, Khalda's gas production would have been expected to fall to 380 million cubic feet within the next six months.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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