Expediting production and exploration projects remains a top priority for the petroleum sector, as it is the key to sustaining production growth, maximizing Egypt’s economic returns, and reducing the import bill, stressed Karim Badawi, Minister of Petroleum and Mineral Resources, during his meeting with senior officials at Badr El Din Petroleum Company (Bapteco) early Monday morning, April 6.
During the meeting, Badawi reviewed the production status, drilling programs, and compliance with occupational health, safety, and environmental protection standards at Bapetco’s work sites.
The meeting came a day after Badawi’s surprise visit to the company on Sunday. The visit is part of ongoing and unannounced field visits to monitor operations and performance levels at petroleum companies, according to a statement by the Ministry of Petroleum and Mineral Resources(MoMPR). ” The aim is to provide necessary support to overcome challenges, ensure continuous production and increased output, and reinforce exploration efforts to achieve discoveries that enhance the sector’s production capacity—ultimately securing local market needs and reducing imports” noted the statement.
During the meeting, Badawi stressed that continuous monitoring, expansion of innovative solutions, and the use of modern technologies are fundamental pillars for improving efficiency and increasing output. He noted that any production increase, regardless of scale, has a direct impact on easing the import burden.
Bapetco has recently launched Egypt’s first locally manufactured 17.5-inch drill bit to drive innovation in drilling and production. The drill bit, tailor-made for Bapetco and currently in the final stages of production, is expected to be completed within weeks.
In fiscal year 2024/2025, the company drilled 13 new wells and repaired 39 wells in its operating areas in the Western Desert. This contributed to achieving production rates of 56,000 barrels of oil equivalent per day (boe/d), 190 million cubic feet of natural gas per day (mmcf/d), and 22,000 barrels of condensate.
These results were achieved through maintenance, repair, and leveraging the expertise and excellence of the company’s human resources, said Chairman Abdel Gawad during Bapetco’s General Assembly meeting in May.
The company aims to inject investments worth $350 million to support and increase production rates in 2025/26. This will be achieved by drilling 34 new wells using 4 drilling rigs. There are also plans to increase the number of wells to 47.