Khalda Invests 1.2 Billion USD in Egypt This Year

The President of Khalda Gas Company Osama El Bokali quoted that the current investment plan for 2012 increased by 200 million USD from 2011 to reach 1.2 billion USD. This year will witness drilling of 149 wells; 40 exploration wells and 109 wells for developing oil fields. Around 411 wells are in operable and undergoing maintenance and repairing, in addition to 68 wells that are under construction.

The daily production of Khalda is 150 thousand barrels of oil and condensates, and 870 million cubic feet of gas. The company daily production from Abu El Gharadik, El Razak, and Dahshor increased from 15 to 32 thousand barrels of oil, and from 40 to 80 million cubic feet of gas compared to the previous year. The remaining reserve of the company recently is about 270 million barrels; 92 million barrels of condensates, 178 million barrels of gas, and 2.9 trillion cubic feet of natural gas.

The global success rate of drilling exploration wells is around 20%; meanwhile the success rate of Khalda has reached 60%. Khalda produces currently from 70 fields with more than 1500 wells. The company begins to carry out compressors project of Kasr field which has more than 2 trillion cubic feet of gas reserves. Khalda invested 265 million USD to maximize its return from 300 trillion feet of gas and 7.5 million barrels of condensates. Khalda is planning to complete Kasr project during the first half of 2014. The company is carrying out a number of new projects which have a target of increasing the production and maximizing reserves such as the development Kalabsha of facilities with a daily capacity of 40 thousand barrels of oil and 40 million cubic feet of gas.

A Comprehensive coverage of Khalda projects can be found as part of the 3D projects online database available at Gulfoilandgas.com. Additional information can be found at the following link: Business Intelligence for Oil & Gas.
Egypt Projects Database