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