By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    German ambassador to Cairo calls for more privatisation of public companies
    German ambassador to Cairo calls for more privatisation of public companies
    June 7, 2023
    $513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
    $513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
    June 7, 2023
    Qatar Investment Authority wants to fully acquire Telecom Egypt’s stake in Vodafone Egypt via subsidiary: Sources
    Qatar Investment Authority wants to fully acquire Telecom Egypt’s stake in Vodafone Egypt via subsidiary: Sources
    June 7, 2023
    7th annual Capital Markets Summit to be launched on 20 June
    7th annual Capital Markets Summit to be launched on 20 June
    June 7, 2023
    CBE receives 21 offers worth $644.1m to cover dollar-denominated T-bill issuance
    CBE receives 21 offers worth $644.1m to cover dollar-denominated T-bill issuance
    June 7, 2023
  • Politics
    PoliticsShow More
    Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
    Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
    June 7, 2023
    Egypt, Serbia hold round of consultations to discuss strengthening bilateral relations
    Egypt, Serbia hold round of consultations to discuss strengthening bilateral relations
    June 7, 2023
    All civilians in Sudan are in danger: UN High Commissioner for Refugees
    All civilians in Sudan are in danger: UN High Commissioner for Refugees
    June 7, 2023
    Arab League calls on Security Council to shoulder its responsibilities, oblige Israel to end occupation
    Arab League calls on Security Council to shoulder its responsibilities, oblige Israel to end occupation
    June 5, 2023
    Institute of Diplomatic Studies holds training course for diplomats from South Sudan
    Institute of Diplomatic Studies holds training course for diplomats from South Sudan
    June 5, 2023
  • Interviews
    InterviewsShow More
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: A billion cubic feet of oil produced by Abu Qir Petroleum last year
Share
Notification
Latest News
Chimpanzees' communication development echoes human infants
Chimpanzees’ communication development echoes human infants
Science
Does multimorbidity impact chronic disease treatment?
Does multimorbidity impact chronic disease treatment?
Science
German ambassador to Cairo calls for more privatisation of public companies
German ambassador to Cairo calls for more privatisation of public companies
Business
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
Business
Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
Egypt Politics
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > A billion cubic feet of oil produced by Abu Qir Petroleum last year
Business

A billion cubic feet of oil produced by Abu Qir Petroleum last year

Daily News Egypt
Last updated: 2017/10/23 at 5:15 PM
By Daily News Egypt 2 Min Read
Share
SHARE

According to the chairperson of Abu Qir Petrolium, Alaa Eldin Fathi, the total production of the company during the last fiscal year amounted to 66 billion cubic feet of natural gas and 1.2 million barrels of crude oil and condensates, according to a statement from the Ministry of Petroleum on Monday.

Fathi stated that the average production of Abu Qir fields during the last fiscal year, which amounted to 267 million cubic feet of gas per day and 5,000 barrels per day of crude oil and condensates, in addition to 245 tons per day of potash, increased due to the operation of the sea pier north Abu Qir 3.

He explained that the drilling of the North Abu Qir PI-10X well was completed in the Abu Madi formation in the field of North Abu Qir and was put on production as the first crude oil-producing well in the field.

Additionally, Fathi pointed out that the well added 1.36 million barrels to the original oil reserves and 6 billion cubic feet of gas to the original reserves of natural gas.

Furthermore Fathi stated that it is planned to start drilling two development wells in the coming period, in addition to the implementation of the project to replace the sea line with a diametre of 6 inches and 12 km between the piers of west Abu Qir and Abu Qir 2 with a view to re-operate and transfer production West Abu Qir pier.

This came during the work of the general assembly of Abu Kir Oil Company, a joint venture between the Petroleum Authority and Italian company Addison, headed by Tarek El Molla, the minister of petroleum, to approve the results of the fiscal year 2016/17.

During the past year, the company has achieved a cost reduction of over $9m in investment and operational costs. The company has achieved the highest performance in the field of occupational safety and health and environmental protection during the year.

You Might Also Like

German ambassador to Cairo calls for more privatisation of public companies

$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023

Qatar Investment Authority wants to fully acquire Telecom Egypt’s stake in Vodafone Egypt via subsidiary: Sources

7th annual Capital Markets Summit to be launched on 20 June

CBE receives 21 offers worth $644.1m to cover dollar-denominated T-bill issuance

TAGGED: Abu Qir Petroleum, Ministry of Petroleum
Share this Article
Facebook Twitter Email Print
Previous Article Central Bank of Egypt Only 33% of Egyptian adults own bank accounts: deputy CBE governor
Next Article EGP flotation gives Egypt competitive advantage to increase exports to Mercosur countries 
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Chimpanzees' communication development echoes human infants
Chimpanzees’ communication development echoes human infants
Science
Does multimorbidity impact chronic disease treatment?
Does multimorbidity impact chronic disease treatment?
Science
German ambassador to Cairo calls for more privatisation of public companies
German ambassador to Cairo calls for more privatisation of public companies
Business
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?