Khalda Petroleum Company invested $667 million during fiscal year 2018/2019, the company’s chairman Khaled Mowafi said in a statement on Sunday.
The petroleum company registered the highest daily output of crude oil of 141,000 barrels in April.
In addition, Khalda Petroleum Company also achieved the highest annual crude oil production of more than 49 million barrels in FY18/19.
A total of 16 oil discoveries have been made, raising the oil reserves by about 28 million barrels of crude oil equivalent.
During FY18/19, the company’s daily production reached nearly 162,000 barrels of crude oil and condensate and 752 million cubic feet of natural gas, in addition to average daily production of 1,700 barrels of butane gas.
Moreover, a three-dimensional seismic survey for oil exploration has been conducted at west Kalabsha over an area of 1,800 square kilometres.