File Photo: Egypt's Minister of Petroleum and Mineral Resources Tarek El-Molla (Photo: Reuters)
Egypt’s state-owned General Petroleum Company has reached unprecedented production rates of 57,000 barrels of oil equivalent per day, the petroleum ministry said in a Friday statement.
The increased production rates follow the discoveries of two new fields, NES-5 and NES-7, the statement added.
The combined production of the two fields is 3,000 barrels of crude oil per day and 1.5 million cubic feet of gas.
GPC is currently implementing a plan to reach a production rate of 60,000 barrels of equivalent oil per day by the end of this year, the statement added.