Rashpetco, Bapetco project progress in FY2016/17

CAIRO – 30 August 2017: BP’s joint venture with the Egyptian government, Rashid Petroleum Company (Rashpetco), plans to drill two exploration wells in the first quarter of 2018, company chairman Hisham El-Attar said.

In a Wednesday meeting with Minister of Petroleum Tarek El-Molla, Attar said production of Burullus fields recorded 526 million cubic feet of gas per day and more than 6,000 barrels of condensates over the previous fiscal year.

Rashpetco started working on phase 9b of Burullus gas fields, having already finished conducting surveys, supplying equipment and control devices, designing and manufacturing works and choosing public contractors of the project.

Phase 9b project is part of the West Nile Delta (WND) project, which involves the development of gas and gas condensate fields located in that region and the West Mediterranean Deepwater Concession, approximately 65-85km (40.4-52.8 miles) off the coast of Alexandria.

At the same meeting, head of Badr El-Din Petroleum Company (Bapetco), Sabry El-Sharkawy, told Molla that output rates of Badr El-Din fields in the Western Desert reached 131,000 barrels of equivalent oil, crude and gas due to putting new wells on production.

A number of 32 development and exploration wells have been drilled to produce 328 million barrels of crude and 4.77 billion cubic feet of gas, Sharkawy said.
Bapetco’s investment recorded $202 million in FY 2016/17.