Qarun drills 10 exploratory wells in Western Desert - ENTERPRISE

Tuesday, 3 September 2019

Qarun Petroleum, a joint venture between Apache and the Egyptian General Petroleum Company, has drilled 10 exploratory wells in the Western Desert, producing a combined 5k bbl/d, the Oil Ministry said in a statement yesterday. 

This will account for 16% of the company’s total production. 

The company is now considering investing USD 237 mn during FY2019-2020 in further development projects.

Apache to drill 50 new wells in Egypt next fiscal year, EGAS and Eni trying to speed up Zohr production schedule - ENTERPRISE

Sunday, 25 March 2018

Apache is planning on drilling 50 new exploratory wells in Egypt in the coming fiscal year through its Qarun and Khalda Petroleum subsidiaries, both JVs with EGPC, Apache CEO John Christmann said on Thursday, according to a report in state-owned Ahram Gate. Christmann said he expects the sector to “witness a boom” in FY2018-19. Apache’s Khalda had signed a USD 20 mn agreement with the EGPC back in December to begin exploration activities in the Western Desert’s Alam El Shawish concession. Apache and Merlon had also signed USD 79 mn-worth of Western Desert exploration agreements with the Oil Ministry in August last year.

Separately, EGAS and Eni are planning to bring production at Zohr to maximum capacity ahead of schedule. The two companies are working hard to have the supergiant East-Mediterranean gas field pumping out its full capacity of 2.7 bcf/d ahead of its slated end-2019 deadline, sources close to the matter tell Al Shorouk, adding that output from Zohr — which is expected to help Egypt reach natural gas self-sufficiency and become a net exporter of LNG — should also rise to 700 mcf/d, from a current 350 mcf/d, by May instead of June.

Qarun Petroleum plans $190 million in investments for FY 2017-18 - ENERGY EGYPT / MUBASHER

January 12, 2017

Qarun Petroleum Company (QPC) plans to inject $190 million in investments in the fiscal year 2017 – 2018, said a press release. “The company seeks to drill 14 wells in FY2017 – 2018,” said Mohsen El-Noby, Chairman.

The company’s average daily production recorded 37 barrels up 11% from the previously established target at the first half of the current fiscal year 2016 – 2017, added El-Noby.

QPC was established on August, 13th 1995, as an operating company for EGPC and the group consisting of Phoenix Resources Company of Qarun, Apache Oil Egypt Inc, and GNR Seagull at Qarun area of the Western Desert covered by the concession agreement.