He added that the company produced 2,200 million cubic feet of associated gas, and this quantity contributed to increasing the proven reserves to 185 million barrels of crude oil.
The Egyptian South Valley Petroleum Holding Company (Ganope) has completed drilling 9 new exploratory wells during FY 2023/2024, with investments of about $40 million, according to a statement by Chairman of Ganope, Ashraf Bahaa.
During FY2022/2024, the company’s total production of crude oil amounted to about 11.2 million barrels, with an average daily production of 30.7 thousand barrels, an increase of 36% over the previous year.
He added that the company produced 2,200 million cubic feet of associated gas, and this quantity contributed to increasing the proven reserves to 185 million barrels of crude oil.
In the realm of exploration, it was elucidated that there are currently 11 effective agreements spanning a collective area of 45,000 km².
Additionally, it was noted that the initial phase of seismic survey data processing has been finalized in the Red Sea concession zones, revealing encouraging signs.
Regarding the distribution of natural gas to the Egyptian hinterland, it was expounded that gas has been successfully channeled to over 2 million residential units, approximately 8,400 commercial establishments, and 186 factories.
The count of gas refueling stations in Upper Egypt has surged to approximately 140 stations, alongside 24 conversion hubs.
