Badr El-Din Petroleum Company has announced a new gas discovery, expected to add around 15 billion cubic feet (bcf) of natural gas to Egypt’s reserves, according to the Ministry of Petroleum and Mineral Resources.

 

The ministry said on Sunday that the new well is expected to start production by the end of the current month, with an initial output of around 15 million cubic feet per day, in addition to 500 barrels per day of condensates.

 

Khaled Abdelsalam, Chairman of Badr El-Din Petroleum, said the company carried out 40 successful hydraulic fracturing operations during the current fiscal year, contributing more than 10,000 barrels per day of oil and over 15 million cubic feet per day of gas to production levels.

 

He said the operations relied on advanced global technologies in the design and execution of fracturing activities, improving production efficiency and enhancing the economic value of existing fields.

 

During an inspection tour of the company’s fields in the Western Desert, Minister of Petroleum and Mineral Resources Karim Badawi said the ministry has strengthened the conditions needed to expand the use of horizontal drilling and hydraulic fracturing technologies, which are key tools for increasing well productivity and boosting crude oil output.

 

He added that achieving Egypt’s five-year plan to double crude oil production requires unconventional solutions and the adoption of advanced global technologies in exploration and production activities.

 

Badawi noted that recent improvements in investment conditions in the sector, including the settlement of arrears to foreign partners, regular monthly payments, and investment incentives, have created a stronger foundation for expanding production technologies and attracting further investment.

 

He also highlighted ongoing efforts by the Egyptian General Petroleum Corporation and its partners to develop innovative economic models that support higher investment and production levels.

 

The minister stressed that increasing domestic production helps reduce reliance on imports of petroleum products and liquefied natural gas, noting that each additional barrel produced locally has a positive impact on the national economy.