Cairo: Badr El-Din Petroleum Company (Bapetco) drilled 15 new wells using nine rigs in the first half (H1) of Fiscal Year (FY) 2025/2026. This resulted in production of an average of 49,000 barrels of oil equivalent per day (boe/d), 171 million cubic feet of gas per day (mmcf/d), and 18,500 barrels of condensate per day (bbl/d), according to Chairman Khaled Abdelsalam.
According to State Information Service Egypt, the company plans to raise production in FY 2026/2027 to 60,000 boe/d, 195 mmcf of gas, and 25,000 barrels of condensates through drilling 37 development and exploration wells with investments estimated at $315 million. There are currently preparations to drill two new exploratory wells (BED-15 West-A and BED-16-C6 West-A) in May, as part of a five-year strategy to maximize reserves, including horizontal wells in the Obayed area with multi-stage hydraulic fracturing.
This development was announced during Bapetco's general assembly meeting, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and its investment partners Cheiron and Capricorn Energy, to review its results during the last period.
Abdelsalam, speaking via video conference, described the agreement to merge eight separate Western Desert concessions into a single integrated contract as a pivotal moment for expanding exploration and expediting production.
During the meeting, David Chi, CEO of Cheiron, highlighted the efficiency of work teams and the potential reserves and opportunities. He confirmed plans to accelerate drilling and expand the use of horizontal drilling and hydraulic fracturing, while also enhancing safety systems.
Eleanor Rowley, Managing Director of Capricorn Energy Egypt, noted the ministry's efforts in settling partner dues and offering investment incentives, which are crucial for expanded gas drilling in 2026/2027 using modern technologies.
The government aims to settle all outstanding arrears to International Oil Companies (IOCs) by June, with dues standing at $714 million at the end of April, down from $6.1 billion in June 2024.
As he chaired the meeting, Karim Badawi, Minister of Petroleum and Mineral Resources, underscored the importance of modern technology and unconventional methods in exploration and drilling. He emphasized that these approaches are essential for unlocking untapped oil and gas potential in the Western Desert.
The minister praised recent exploration results in Badr El-Din (BED) areas, highlighting the role of horizontal drilling, hydraulic fracturing, and advanced seismic surveys in maximizing resource recovery and reducing risks.
Regarding clean energy projects, Bapetco has implemented four solar projects with a combined capacity of 300 kilowatts (KW), including Egypt's first well using solar-powered ESP artificial lift. Plans are in place to cover 20% of Cairo headquarters' energy needs with solar power and to study a 5 megawatt (MW) solar plant in the BED area. The company continues to uphold ISO certifications in safety, environment, quality, and energy efficiency while improving asset performance and operational reliability.
In terms of digital transformation, the company trained 65 employees in AI applications and developed three machine learning prototypes to support operations.