Written by: Karim Hammam
Egypt is taking diligent steps to reverse the decline in oil and natural gas production levels, through comprehensive plans aimed at enhancing exploration operations and developing existing fields. These earnest efforts come within the framework of the Egyptian energy sector's strategy to increase domestic production and meet the growing energy needs of the local market for various vital economic and industrial sectors.
Official reports issued by the oil and gas sector in Egypt confirmed that the recent period witnessed intensive efforts that resulted in adding about 591 new wells to the actual production lines, in addition to achieving 113 new oil and gas discoveries. These figures reflect the volume of operational operations and major exploration activities that have been implemented to support the energy sector and compensate for the natural decline rates in old wells.
The importance of exploration activities and well development
Drilling new wells and developing recent discoveries are of utmost strategic and economic importance to ensure the sustainability of energy supplies, as these steps contribute to supporting the national economy and reducing reliance on imports. The oil sector's plans rely on attracting more global and local investments to accelerate the pace of work in current and future production fields and increase the efficiency of operations.
The concerned authorities and companies operating in the energy field in Egypt continue to implement ambitious programs aimed at maximizing the benefit from latent natural resources, with a focus on using the latest engineering and technological techniques in drilling and production operations to raise operational performance efficiency and achieve the ambitious strategic goals of the energy sector in the country in the short and long term.
