Khalda Petroleum Company, a joint venture (JV) between Apache and the Egyptian General Petroleum Corporation (EGPC), made 23 oil discoveries, including West Faiops-1X and NUT S-1X, during fiscal year (FY) 2024/25. Moreover, the company exceeded its targets, with natural gas production reaching 514 million cubic feet per day (mmcf/d), according to Moataz Atef, Khalda’s Chairman and Managing Director.
The company’s performance was announced during its general assembly meeting, which was chaired by Karim Badawi, Minister of Petroleum and Mineral Resources, to approve the company’s FY 2024/25 results.
Atef highlighted progress in occupational safety and health, describing these achievements as the start of a new phase driven by unified teamwork and successful cooperation with Apache.
During the meeting, Badawi noted that constructive cooperation with foreign partners and the ministry’s incentive package helped to accelerate exploration and production activities. He also added that leveraging available potential and modern technologies enabled the company to overcome challenges and maintain stable supplies. He concluded by reaffirming the ministry’s commitment to supporting efforts to increase local production and improve operational efficiency.
In line with the minister’s statement, representatives from Apache and Khalda emphasized the positive outcomes of their cooperation with EGPC. They credited the gas incentive program, infrastructure development, and the expansion of sustainability and energy projects for the growth in production.