Khalda Petroleum Company has announced three major discoveries of crude oil and natural gas in the Western Desert. These promising finds are set to enhance Egypt’s energy reserves, with an estimated addition of 12 million barrels of oil equivalent, out of which 4 million barrels are deemed recoverable.
The Egyptian Ministry of Petroleum and Mineral Resources has confirmed the developments, highlighting that daily production rates have reached approximately 2,750 barrels of oil and condensates, along with 20 million cubic feet of gas. Current calculations are underway to determine the volume of associated gas, a critical component in assessing the overall impact of these discoveries.
These discoveries underscore the pivotal role of Apache Corporation, Khalda’s partner, in advancing both oil and gas development in the region. Under their collaboration, Khalda’s gas production is anticipated to exceed 480 million cubic feet, with projections aiming for 500 million cubic feet shortly. This growth trajectory is vital, as it not only sustains but also enhances production levels that would otherwise have seen a decline to 380 million cubic feet within six months.
