Khalda Petroleum Company, active in the Kalabsha Development Area of Egypt’s Western Desert, has revealed a new oil discovery in the West Fewebs-1 region.
According to Egypt’s Cabinet, the well was drilled to a depth of 270 feet into the Paleozoic sands, producing a rate of 7,165 barrels of oil per day through a 1-inch opening, along with an oil quality of 44 degrees and 23 million cubic feet of accompanying gas.
Electrical logs from the well confirmed hydrocarbon indicators in the Paleozoic layer, with a total net thickness of 462 feet.
Meanwhile, Egyptian Minister of Petroleum and Mineral Resources Karim Badawi has introduced a new set of incentives designed to boost oil and gas production during a significant meeting with key industry partners.
These incentives are aimed at enhancing production levels beyond current rates, alongside increasing exploratory and developmental drilling activities as well as production operations.
Moreover, the additional revenue generated from this increased production will be directed toward settling some of the outstanding dues to partners in the petroleum sector and supplying more petroleum, thereby helping to reduce the disparity between local production and consumption.
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