Pharaonic Petroleum Firm (PhPC) confirmed plans to fast-track drilling actions to convey a brand new growth nicely onstream within the fourth quarter (This autumn) of 2026 with a manufacturing price of 40 million cubic ft (mmcf/d) of fuel per day.
This got here throughout a gathering of Ehab Ragaee, First Undersecretary for Manufacturing on the Ministry of Petroleum and Mineral Sources (MoPMR) and Samir Raslan, Undersecretary of the MoPMR for Agreements and Exploration with Hossam Zaki, Chairman of PHPC, together with representatives of the corporate’s worldwide companions, to evaluation PHPC’s ahead plans to speed up manufacturing progress and broaden recoverable fuel and condensate reserves.
The corporate’s executives offered the promising exploration and manufacturing alternatives that will contribute to doubling the corporate’s manufacturing within the subsequent 5 years.
Throughout its basic meeting assembly, PhPC, a three way partnership between bp and the Egyptian Pure Gasoline Holding Firm (EGAS), mentioned it exceeded its authorized manufacturing plan in fiscal yr (FY) 2024/2025, averaging 76,280 barrels of oil equal per day (boe/d). The corporate additionally produced round 388 million cubic ft per day (mmcf/d) of pure fuel, whereas condensate output reached 9,370 barrels per day (bbl/d).
As well as, PhPC accomplished 3D seismic processing utilizing Ocean Backside Node (OBN) know-how throughout greater than 250 sq. kilometers, figuring out potential fuel sources of as much as 1.5 trillion cubic ft (Tcf) in Oligocene formations. The corporate is evaluating deep targets on the Atoll discipline, with plans to drill a brand new exploration nicely.
