Qarun Petroleum production averages 35,600bpd

CAIRO – 20 June 2017: Qarun Petroleum Company’s (QPC) oil production stood at 35,600 barrels per day (bpd) in fiscal year 2016/2017, 8 percent higher than expectations, company chairman Mohsen el-Noby said Tuesday.

The drilling of two new wells will be completed by the end of June, bringing the number of drilled wells in 2017 to 15, Noby said in a statement released by the Ministry of Petroleum.

The wells are located in Karama and East Bahria fields in the Western Desert, and in the West Nile fields in Beni Suef concession.

Founded in 1995, QPC is a joint venture between the Egyptian General Petroleum Corporation (EGPC) and U.S.-based oil giant Apache.