Petroleum Minister Tarek el-Molla during his participation in Rome MED 2017 forum - Press photo
CAIRO - 18 February 2020: Minister of Petroleum and Mineral Wealth Tarek el Molla asserted the importance of sticking to the timetable of developing oil wells in order to start their production soon along with intensifying exploration activities to compensate for the production decline in aging wells so as to meet the state's needs of natural gas and petroleum products.
A statement released by the Oil Ministry on Monday said Molla's remarks were made during his chairing of the general assembly meeting of Rashid Petroleum Company/Burullus Gas Company (Rashpetco) to approve the amended budget of 2019/2020 and the draft budget of 2020/2021.
Meanwhile, Rashpetco’s Chairman Sabry El Sharkawy said there are currently studies on in the 10B phase of the West Delta Deep Marine (WDDM) which is expected to add production of around 236 billion cubic meters after drilling seven wells.
He said drilling in the deep waters (Swan) in East El Burullus Lake has successfully resulted in increasing the well's production to reach 110 million cubic meters of gas daily, with an estimated increase of 50 million cubic meters than targeted.
Sharkawy also noted that work is currently underway to link three wells named "Simian, Sapphire D and Sapphire East DC) of the 9B phase which have been discovered in WDDM few months ago.
All digging operations of wells of the 9B Phase have been finalized and are expected to add an initial production of 180 million cubic meters of gas daily, he added, noting that the planned production rate is around 420 million cubic meters of gas daily and 11,000 oil barrels during the coming fiscal year.
Construction is also underway in "Muntu" well in the WDDM with initial cost of dlrs 99 million, Sharkawy added.
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