Egyptian Oil Company Exceeds Production Targets with Major Infrastructure Upgrades
North Bahariya Petroleum Company (NORPETCO) has reported strong performance results for fiscal year 2024/2025, commencing crude oil production from the Ferdous-23 well while drilling 13 new wells that exceeded its annual target. The company also added 1.5 million barrels of proven reserves during the period. The achievements were announced during NORPETCO’s General Assembly, headed by Salah Abdel Kerim, Chairman of the Egyptian General Petroleum Corporation. Alongside upstream performance improvements, the company expanded its renewable energy footprint, increasing solar capacity to 124 kilowatts and launching a tender for an additional 800 KW station.
NORPETCO has undertaken significant infrastructure development, replacing old pipelines with modern Glass Reinforced Epoxy lines and upgrading field facilities to improve working conditions. The company began the engineering and design phase for a pipeline linking NORPETCO with Khalda Petroleum Company to enhance operational safety and reduce transportation costs.
Earlier this year, NORPETCO completed two major projects that have generated substantial cost savings. The first involved establishing a new shipping pipeline connected to Qarun Petroleum Company’s export pipeline, which reduced trucking risks to Suez, minimized oil loss, and saved approximately $1 million per month in operating costs. The second project extended a 27-kilometer gas pipeline between NORPETCO’s and Khalda Petroleum’s fields at a cost of $3.8 million, enabling the use of gas instead of diesel and saving an estimated $12 million annually. For fiscal year 2025/2026, NORPETCO has amended its budget to $117.9 million and plans to drill 13 wells, including one exploratory well and 12 development wells.
Source: egyptoil-gas.com
