An official at the Egyptian firm General Petroleum Company (GPC) stated to Egypt Oil&Gas that the company will drill 18 exploratory and development wells during the fiscal year 2017/2018. Under GPC’s general budget for the new fiscal you,  the company further plans to execute a number of programs to develop the infrastructure and develop discovered reserves. GPC will provide facilitation on land as well as offshore.

The official further stated that GPC made two new discoveries of crude oil and gas in North Amer Field in Gulf of Suez as well as North Ras Al Behar Field in the Eastern Desert during the first half of fiscal year 2016/2017 and will evaluate their results soon.

In addition, the official informed that the company achieved the highest production rate in its history as it produced about 87,600b/d of oil equivalent from its fields as well as the fields of which it owns shares through joint ventures.