Rashpetco Unveils Ambitious Plan to Double Egypt’s Gas Output by 2030
Rashid Petroleum Company (Rashpetco) has unveiled a five-year strategic plan spanning 2025 to 2030, which encompasses Rashpetco and its subsidiaries Burullus Gas Company and West Mina Gas Company. The plan aims to double its current natural gas production by the end of fiscal year 2029/30.
The meeting was attended by Ehab Ragaee, First Undersecretary of the Ministry of Petroleum and Mineral Resources for Production Affairs, and Samir Raslan, Undersecretary for Agreements and Exploration. Sayed Selim, Chairman of Rashpetco, alongside Khalid Gad, General Manager and Managing Director, outlined an ambitious vision to maximize the utilization of existing assets and infrastructure while injecting new investments in collaboration with partners.
A primary highlight of the strategy is the West Mena region, located offshore the Mediterranean, where drilling operations for the first well are scheduled to commence in February. The project targets an estimated production of 160 million standard cubic feet per day of natural gas and 1,900 barrels of condensate per day by the fourth quarter of 2026.
The 2025-2030 roadmap also includes the Phase 12-A development project, set to begin in the first quarter of 2027 with investments of $350 million. Following the successful methodology of previous phases, this stage is expected to add 150 million standard cubic feet per day of natural gas and 2,700 barrels of condensate to daily output.
Rashpetco further detailed the results of its 4D seismic survey in the West Delta Deep Marine (WDDM) and South Sequoia concessions. These findings are expected to bolster reserve portfolios and support future production phases.
Ministry officials commended Rashpetco’s success in reducing drilling times during Phases 10 and 11 through the application of directional drilling and modern technologies. The ministry reaffirmed its support for accelerating production and expanding the use of artificial intelligence and data analytics across operations.
Rashpetco is a joint venture between British Gas Group with a 40 percent interest, the Italian Edison Gas holding 10 percent, and the Egyptian General Petroleum Corporation (EGPC) with the remaining 50 percent.
Source: egyptoil-gas.com
