Oil discoveries reshape the energy map in the Western Desert

The Ministry of Petroleum and Mineral Resources in Egypt announced on Saturday, April 12, three new oil and gas discoveries in the Western Desert, within the areas of Khalda Petroleum Company’s concessions.

In an official statement, the ministry indicated that the new discoveries resulted in the addition of an estimated reserve of approximately 12 million barrels of oil equivalent, with a recoverable reserve of about 4 million barrels of oil equivalent. The discovered wells have been tested and evaluated, with daily production reaching approximately 2,750 barrels of crude oil and condensates, in addition to 20 million cubic feet of natural gas, while Khalda Petroleum continues to calculate the associated gas reserves.

The ministry confirmed that these positive results reflect the impact of the recent price adjustment incentives, which have helped encourage foreign partners, including Apache Corporation, to continue exploration and development operations, especially in the field of natural gas.

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p class=”” data-start=”1155″ data-end=”1506″>The ministry noted that Khalda’s gas production has increased to more than 480 million cubic feet per day, with expectations to reach 500 million cubic feet in the near future. It also emphasized that this initiative saved production from a decline, as it was expected to drop to 380 million cubic feet within six months without these new discoveries.