North Bahariya Petroleum Company (NORPETCO) has commenced crude oil production from the Ferdous-23 well, drilled 13 new other wells exceeding its annual target, and added 1.5 million barrels of proven reserves. The statement was made during the company’s General Assembly, headed by Salah Abdel Kerim, Chairman of the Egyptian General Petroleum Corporation (EGPC), to approve its work results for the fiscal year (FY) 2024/2025.
Alongside its upstream performance, NORPETCO also expanded its renewable energy footprint, increasing its solar capacity to 124 kilowatt (KW) and launching a tender for an additional 800 KW station.
On the infrastructure development front, the Egyptian company replaced old pipelines with modern Glass Reinforced Epoxy (GRE) lines and upgraded field facilities to improve working conditions. It also began the engineering and design phase for a pipeline linking NORPETCO with Khalda Petroleum Company to enhance operational safety and reduce transportation costs. Studies for a separate shipping pipeline project were also accelerated to reduce reliance on trucking and its associated risks.
It is worth mentioning that in a meeting in June with Karim Badawi, the Minister of Petroleum and Mineral Resources, NORPETCO announced the establishment and operation of two projects. The first is a new shipping pipeline connected to Qarun Petroleum Company’s export pipeline, which has reduced trucking risks to Suez, minimized oil loss, and saved approximately $1 million per month in operating costs. The second project involved extending a 27 km gas pipeline between NORPETCO’s and Khalda Petroleum’s fields at a total cost of $3.8 million, enabling the use of gas instead of diesel and saving an estimated $12 million annually.
Earlier this year, NORPETCO amended its budget for FY 2025/2026 amounting to $117.9 million, and included drilling 13 wells: one exploratory well and 12 development wells.