GPC to increase oil output to 6,000 b/d by end of 2017

CAIRO – 6 August 2017: General Petroleum Company – GPC has started an exploration program to rate the production raise to exceed 60,000 oil barrels per day (b/d) by the end of 2017, the company’s chairman said Sunday.

Mostafa Taher, the head of GPC, added in a statement that the output rates will increase after finishing the installment of NAO – HH platforms.

Moreover, Taher noted that the firm has raised its crude oil production to reach 57,000 equivalent barrels per day, for the first time since establishment.

The increased output is due to the discovery of NES-5 and NES-7 wells, which produce 3,000 b/d of oil and 1.5 million standard cubic feet (mscf) of gas, in addition to nine million barrels of oil and 20 billion cubic feet of gas to the company’s reserves, the statement added.