Petrobel Drilled 35 Wells in 2017/18

Belayim Petroleum Company (Petrobel) drilled 35 wells in fiscal year (FY) 2017/18 at a total cost of $179 million, Egypt Oil & Gas reports.

Company head Atef Hassan said that the newly-drilled wells include 30 wells in Sinai, and five wells in Nile Delta. The company also spent $137 million on conducting 307 well maintenance operations.

The Petrobel chief’s comments came during a meeting with Minister of Petroleum Tarek El Molla to review the company’s performance in FY 2017/18.

Hassan told the minister that Petrobel is pushing ahead with plans to establish a 36-km pipeline connecting Nooros wells in the Nile Delta to an onshore processing plant in order to maintain the field’s 1.2 bcf/d production rate.

The company is also continuing to develop the Baltim South West field by drilling six new wells and building a new offshore platform.  The gas will be transported from this platform through an 18-km, offshore pipeline and a 30-km, onshore pipeline to the Abu Madi processing facility. The project will cost $383 million and is expected to produce around 500 million standard cubic feet per day (mscf/d) of natural gas.

Egypt Oil & Gas Contribution Time: 05-Sep-2018 04:00 (GMT)
Egypt Oil & Gas Last Update Time: 05-Sep-2018 04:00 (GMT)