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27 August 12:00 AM

Pharaonic Petroleum Company's natural gas output hits 600 m cubic feet per day

The natural gas output of the Pharaonic Petroleum Company reached about 600 million cubic feet per day in addition to 11,000 condensate barrel.

While inspecting work in petroleum and natural gas production sites in Port Said, Petroleum Minister Tareq Mulla said natural gas production projects in the governorate has a great economic value and represent an example of the optimal use of Egypt's wealth.

The minister added that exploration of  petroleum and natural gas was intensified over the past period, especially after holding two international tenders.

This has increased Egypt's output and reserves of petroleum and natural gas.

The company's Chairman Hassan Abadi said the company managed to give the go ahead for Atoll gas field - in the North Damietta Concession offshore Egypt in the East Nile Delta – in December at a production capacity of 350 million cubic feet of natural gas daily and 10.5 million condensate barrels per day.

This field contributed to upping daily production rates to about 116,000 barrels of oil equivalent, the record is the highest since the company's establishment.

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