Arab Finance: Engineer Ashraf Bahaa El-Din, President of the company, reviewed South Valley Egyptian Holding Company For Petroleum, the most important business results, as he explained that the total production of crude oil for South companies and subsidiaries amounted to about 11.2 million barrels during the year with an average daily production of 30.7 thousand barrels, an increase of 36% over the previous year, in addition to 2,200 million cubic feet of associated gas, as a result of To drill development wells at PetroGulf, Esh El-Milaha, Petronfertiti and Rahmi companies, which contributed to increasing the proven reserves to 185 million barrels of crude oil.
In the field of exploration, Bahaa explained that there are 11 agreements in effect with a total area of ​​45 thousand km2, and he added that the final processing of seismic survey data in its first phase has been completed in the Red Sea concession areas, which showed positive indicators, and 9 new exploratory wells have been drilled with investments of about 40 million dollars. It contributed to achieving positive results to support production, especially from PetroGulf’s North Gissum field in the Gulf of Suez.
In the field of natural gas delivery in Upper Egypt, the number of units that natural gas has delivered since the start of activity has increased to more than 2 million residential units and about 8,400 commercial establishments and 186 factories. Gas has also been supplied to 176 villages so far in Upper Egypt within the framework of the Presidential Initiative for a Decent Life, and the increase has increased. The number of stations for filling cars with gas in Upper Egypt is about 140 stations and 24 conversion centers.
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