Egypt's Badr Petroleum Company announced on Monday a new gas discovery in the Badr-1 Field in the Western Desert. The discovery follows the successful testing of the 10-2X exploratory well, which is currently producing approximately 20 million cubic feet of gas per day. According to a Ministry of Petroleum statement, the well has confirmed reserves of 15 billion cubic feet of gas and 500,000 barrels of condensates. Additionally, the field holds estimated undeveloped reserves of 60 billion cubic feet of gas and 3 million barrels of condensates in deeper layers. The announcement was made during the company's general assembly meeting, where the investment budget for the 2025/2026 fiscal year was reviewed and approved. WEPCO, the operator of the Badr-1 Field, hosted the session, attended by Minister of Petroleum and Mineral Resources Kareem Badawy. Ibrahim Masoud, Chairman of WEPCO, stated that the new gas discovery marks a major milestone for the company, expanding production beyond its previous sole output of crude oil for 40 years. WEPCO has achieved record production rates from Badr-1, reaching 7,700 barrels of oil equivalent per day—a 160 per cent increase over current targets. Masoud revealed an ambitious drilling plan for the next two fiscal years, encompassing three exploratory wells, four development wells, and the re-completion of 12 existing wells. This comprehensive plan aims to sustain the field's transition into a dual producer of oil, natural gas, and condensates. Minister Badawy commended the efforts of the petroleum sector and acknowledged the continued support of Egypt's leadership. He emphasised that these achievements will drive further exploration and production activities, solidifying the sector's vital role in Egypt's economic growth. In November 2014, the Egyptian General Petroleum Corporation (EGPC) assigned WEPCO to oversee exploration and operational activities in the Badr Field. Attribution: Amwal Al Ghad English
