Khalda Petroleum Company, operating in Egypt’s Western Desert, announced a new oil discovery in a statement on August 27, specifically in the West Fewebs-1 area of the Kalabsha Development Area.
The company reported that the new well was tested by drilling 270 feet into Paleozoic sandstone, which are rock layers that date back to the Paleozoic era, roughly 541 to 252 million years ago. The well produced 7,165 barrels of high-quality oil per day with a quality grade of 44 degrees, along with a volume of 23 million cubic feet of natural gas, using a 1-inch production choke to control the flow.
The electric logs of the well, which measure rock properties, confirmed the presence of petroleum in the ancient Paleozoic formation, with a total net thickness of 462 feet.
Media sources reported, according to France24, that the exploration is part of a broader government initiative, in partnership with foreign and local companies, to address growing domestic demand by boosting production.
Part of the broader efforts includes creating incentives to raise production levels, expand exploratory and developmental drilling activities, and enhance overall production operations.
Efforts to Boost Production
Egypt plans to restore oil and gas production to normal levels by 2025, with support from international partners, as part of its broader strategy to establish itself as a regional hub for liquefied natural gas, according to Karim Badawi, Minister of Petroleum and Mineral Resources.
“Egyptian Natural Gas Holding Company launched a new international bidding round for the exploration and exploitation of natural gas and crude oil in 12 blocks in the Mediterranean Sea and the Nile Delta,” according to Egypt’s Ministry of Petroleum and Mineral Resources on 27 August, marking an ongoing effort towards enhancing oil and gas production.
Additionally, the revenue generated from increased production will be allocated to settling outstanding payments to petroleum sector partners and boosting petroleum supplies—aiming to help bridge the gap between local production and consumption.
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