What is happening in the petroleum sector and what is the story of the new discoveries that the ministry announced in the last hours.. Let’s see what the story is..
That’s clear. The doors of goodness and happiness have been opened for the Ministry of Petroleum and Mineral Resources, especially after the announcement of the drilling of 3 new wells, which will change the map of production in Egypt and the region, and will move Egypt to another level entirely.
Among these 3 wells is the “Arta 92” well of the Petrobaker Company, which has a production rate of 350 barrels per day. This well is located in the Ras Gharib region of the Red Sea Governorate. Yesterday, the Minister of Petroleum, Engineer Karim Badawi, visited the new sites and encouraged the workers to do more. From the effort because they are the backbone of the production process and its driving force. He stressed that very soon beer productivity will be added to the energy map in Egypt and will create a very large, huge qualitative leap. The numbers will jump to levels that no one could have imagined.
We can say that the new wells discovered in the recent period will supply Egypt’s production of oil and natural gas, and will achieve the goal of sustaining the needs of the local market and the state’s economic sectors for petroleum products and natural gas, and all of this will reflect positively on the life of the simple Egyptian citizen, because we can export, earn and save. Hard currency will save us a lot, and we can pump it well into other projects or even support the economy with it.
As for the “Arta” field, it reaches a depth of 4,000 feet, and it is planned to be placed on the production map after the completion of drilling work, in order to produce about 350 barrels of oil per day.
Also, a production development well, called “Gharib 277 Well,” affiliated with the General Petroleum Company, is currently being drilled in the Ras Ghareb petroleum area, and it is planned to be drilled within two weeks after the completion of the drilling work, producing about 200 barrels per day.
If the first two wells are put on production, we will reach a rate of about 1,000 barrels of oil per day, not including the third well, which means it will all produce and the machine will not stop producing oil and gas.
Therefore, it is planned to dig two additional pyres during the next 3 months, in order to enhance productivity and achieve sufficiency in the local market and also export abroad in foreign currency, and the doors of happiness will open to the Egyptian people.
Of course, all of this will have a significant impact on public life and the standard of living. In addition to the discoveries of oil and gas, increasing industrial productivity, stimulating trade activity, and opening doors for investors, all of this will contribute greatly to us overcoming any economic challenges, and being able to turn adversity into a gift and benefit from it very well. Thus, we will be among the countries with the strongest economies in the world, and if all of this is achieved, we will see it with our own eyes next year.
