Egypt’s PhPC Plans New Gas Well Targeting 40 Million Cubic Feet Daily
Pharaonic Petroleum Company has confirmed plans to fast-track drilling activities to bring a new development well onstream in the fourth quarter of 2026 with a production rate of 40 million cubic feet of gas per day. The announcement came during a meeting between senior officials from the Ministry of Petroleum and Mineral Resources and company executives, including representatives of PhPC’s international partners.
During the meeting, Ehab Ragaee, First Undersecretary for Production at the Ministry of Petroleum and Mineral Resources, and Samir Raslan, Undersecretary of the MoPMR for Agreements and Exploration, met with Hossam Zaki, Chairman of PHPC, to review the company’s forward plans to accelerate production growth and expand recoverable gas and condensate reserves. The company’s executives presented promising exploration and production opportunities that would contribute to doubling the company’s production in the next five years.
During its general assembly meeting, PhPC, a joint venture between bp and the Egyptian Natural Gas Holding Company, reported that it exceeded its approved production plan in fiscal year 2024/2025, averaging 76,280 barrels of oil equivalent per day. The company also produced around 388 million cubic feet per day of natural gas, while condensate output reached 9,370 barrels per day.
The company has completed 3D seismic processing using Ocean Bottom Node technology across more than 250 square kilometers, identifying potential gas resources of up to 1.5 trillion cubic feet in Oligocene formations. PhPC is also evaluating deep targets at the Atoll field, with plans to drill a new exploration well as part of its ongoing exploration and development activities.
Source: egyptoil-gas.com
