The North Baharia Petroleum Company (Norpetco) continues to implement its plans to increase production with a budget exceeding $100 million and production rates surpassing 16,000 barrels of oil, Norpetco’s chairman, Khaled El-Sheshtawy, said. The company also increased the number of crude oil storage tanks in its fields, reaching a storage capacity of 75,000 barrels.
This came during a meeting with Karim Badawi, Minister of Petroleum and Mineral Resources.
Norpetco, an Egyptian oil and gas company involved in exploration, drilling, and production activities, established and operated two significant projects: The first is a new shipping pipeline that ends with Qarun Petroleum Company’s export pipeline. This project helped reduce the risks associated with trucking to Suez, minimize oil loss, and save $1 million monthly in operating costs.
The second project involved extending a 27 km gas pipeline between NORPETCO’s and Khalda Petroleum’s fields, at a total cost of $3.8 million. This allows for the use of gas as an alternative to diesel, saving an equivalent of $12 million annually.
During the meeting, Badawi emphasized that achieving the goal of increasing production at the lowest cost is a collective responsibility that requires concerted efforts from all production companies. Badawi stated that every additional barrel of oil or cubic meter of gas produced represents a significant success for the sector and directly benefits the Egyptian economy.
The Minister was keen to open a dialogue with the company’s leadership and a number of young engineers to understand their vision and plans. Badawi listened to their work challenges, emphasizing that the Ministry and EGPC are committed to providing the necessary support to turn these challenges into opportunities. This will be achieved by enhancing teamwork with foreign partners, distributing tasks, and exchanging expertise.
