Rashid and Burullus Company for Petroleum announced on Monday 30/8/2021 the production of 405 million cubic feet (mcf) of natural gas in 2020/2021 fiscal year and 9,600 barrels of condensates per day despite challenges prompted by the coronavirus pandemic outbreak.
To increase petroleum production and reserves, the Petroleum and Mineral Resources Ministry worked on exploring new areas and re-assessing existing ones, Petroleum and Mineral Resources Minister El Molla said in press statements after presiding over a general assembly meeting of Rashid and Burullus Company for Petroleum.
The Western desert is a very promising area and there are good indicators that there are petroleum and gas finds to be unearthed soon, he said.
With the development of excavation technologies, companies can now reach deeper layers, he said.
He underlined the importance of stepping up exploration work and pumping new investments to increase production and reserves.
Source: State Information Service Egypt