Arab Finance: In the context of following up the plans of oil and gas production companies, Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, visited the headquarters of the company “Wonderful oil“To discuss its plans in the fields of research, exploration and increase production, in the presence of the leaders of the ministry and the” Agiba “and” Ayuk Production “of the Italian company Eni.
The minister stressed the importance of continuing to work to maximize local production and reduce the import bill, praising the company's significant increase in the production of crude oil during the past months. He stressed the need to maintain safety and environment standards as major factors to attract investments and enhance operating performance.
He explained that the current stage requires the intensification of research and exploration activities, and the rational management of fields, while enhancing cooperation and exchanging experiences between the sector companies.
For his part, Eng. Salah Abdel Karim, CEO of the Egyptian General Petroleum Authority, affirmed the support of the authority to raise the capabilities of Ajiba Company by increasing the number of excavators and reducing the cost of production, while taking advantage of the available productive facilities in the Western Sahara region.
The officials of the “Iowk Production” company praised the Ministry's efforts, especially in the fields of occupational safety and health, noting the success of “Wonderful” in implementing important environmental projects such as reducing gas burning and getting rid of accompanying water without emissions.
Engineer Tharwat Al -Jundi, President of “Agiba”, reviewed the results of the business that showed the highest production rate in May at 44,196 barrels per day, with a plan to maintain the average production of 30 thousand barrels per day during the next fiscal year. The company also succeeded in adding 5.3 million barrels equivalent to reserves, as part of an exploratory plan that includes drilling 14 wells within four years.
He pointed to the implementation of important infrastructure projects, including a water treatment plant with a capacity of 45 thousand barrels per day, and a new gas treatment plant with a capacity of 100 million cubic feet per day, in addition to developing firefighting systems and transporting crude to Al Hamra Port.
During the meeting, the minister affirmed the full support of the company to the company, with the importance of continuing cooperation and coordination to overcome challenges and achieve the maximum benefit from the available resources.
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