Egyptian Oil Company Norpetco Exceeds Production Targets with $100 Million Investment
The North Baharia Petroleum Company has achieved significant production milestones, surpassing 16,000 barrels of oil daily while implementing expansion plans backed by a budget exceeding $100 million. Chairman Khaled El-Sheshtawy announced the achievements during a meeting with Minister of Petroleum and Mineral Resources Karim Badawi, highlighting the company’s successful growth strategy.
Norpetco has substantially increased its operational capacity by expanding crude oil storage infrastructure, reaching a total capacity of 75,000 barrels across its fields. The company has implemented two major cost-saving projects that demonstrate its commitment to operational efficiency and environmental responsibility.
The first project involved constructing a new shipping pipeline connecting to Qarun Petroleum Company’s export pipeline, eliminating trucking risks to Suez, reducing oil loss, and saving $1 million monthly in operating costs. The second project featured a 27-kilometer gas pipeline extension between Norpetco and Khalda Petroleum fields, costing $3.8 million but generating annual savings equivalent to $12 million by replacing diesel with gas.
Minister Badawi emphasized that achieving production increases at the lowest cost requires collective responsibility and concerted efforts from all production companies. He noted that every additional barrel of oil or cubic meter of gas produced represents significant success for the sector and directly benefits the Egyptian economy.
Source: egyptoil-gas.com