Egypt Uncovers Major Oil Reserve In Western Desert: A Bold Step for Petroleum Growth

You know that saying, “We hit a goldmine,” well, when it comes to Egypt, they can now say that, but instead of a goldmine, they’ll say, “We just struck oil.” 

In Egypt’s Western desert, the Khalda Petroleum Company discovered new oil in the West Fewebs-1 region.

A Dive Into The Operation 

While the petroleum company was drilling at the West Fewebs-1 region, they drilled into the Paleozoic sands, reaching a depth of 270 feet, striking oil. 

Through a 1-inch opening, they were able to extract 7,165 barrels of oil per day. 

Plans to Boost Oil Production In Egypt

Beyond this successful drilling operation, Egypt has big plans to boost its petroleum sector.

Egyptian Minister of Petroleum and Mineral Resources Karim Badawi introduced new sets of incentives. These incentives will help boost the country’s oil and gas production. 

Along with that, the Ministry also announced that the Egyptian Natural Gas Holding Company (EGAS) launched a new global bidding process for 2024.

The bidding has the goal of exploring natural gas and crude oil in 12 sectors across the Mediterranean Sea and the Nile.

All these plans are there to propel Egypt toward boosting its petroleum economy.