Agiba Petroleum to dig 7 oil fields in 2018/19

CAIRO – 29 January 2018: “Agiba Petroleum Company is planning to produce 46,000 barrels of crude oil per day and 16 million barrels per year during the fiscal year 2018/2019,” Chairman of Agiba Petroleum Company Mohamed al Kafas said in the general assembly meeting of the company.

"Agiba Petroleum targets to dig seven developmental oil fields in 2018/2019," Kafas added.

The daily production rate of Meleiha Field and Karnak Field is about 2500 barrels and 1320 barrels of crude oil per day, respectively.

Agiba Petroleum Company amplified its petroleum reserves to 10 million barrels of crude oil and 39 billion cubic feet of gas in fiscal year (FY) 2016/17.