Egypt’s Khalda Petroleum Company, which operates in the country’s Western Desert, has announced a new oil discovery in the West Fewebs-1 area.
Discovered after drilling 270 feet into the Paleozoic sands, the well tested a daily recovery of 7,165 barrels of oil with a quality of 44 degrees and 23 million cubic feet of associated gas on a 1-inch production opening.
Electrical logs confirmed hydrocarbon presence in the Paleozoic layer, with a net thickness of 462 feet.
Meanwhile, Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, introduced new incentives to boost oil and gas production during a meeting with key industry partners.
These incentives aim to increase production, exploratory and developmental drilling activities, and production operations. The revenue from increased production will help settle dues to the petroleum sector’s partners and provide additional petroleum to narrow the gap between local production and consumption.
