Egypt Oil & Gas: Transglobe’s oil production rates in Egypt recorded 12,506 barrels of per day (bbl/d) in June (until June 19) compared to 12,544 bbl/d in Q1 2020, according to a statement.
Oil production until June decreased mainly due to natural declines in Egypt. However, June production has positively impacted Q2 through successful well maintenance in May and timing of production recognition. The company added that the SGZ-6X well in South Ghazalat kept a production rate of 200-250 bbl/d of light and medium crude. On the other hand, the Eastern Desert’s production remained on pause for Q2 as per the company’s 2020 budget.
Transglobe is still in talks with the Egyptian General Petroleum Corporation (EGPC) to reduce operational expenditures, in addition to amending, extending, and consolidating the company’s Eastern Desert concession agreements. The company has also stated that it had three reported cases of COVID-19 within its joint venture quarters in Egypt, and all cases have recovered and returned to work without any infection spread reported.