The Media Center stated that the company’s crude oil
production reached approximately 32,000 barrels per day, the highest production
rate the company has achieved in the past three years.
The achievement highlights the success of the company’s
drilling program, which leverages new discoveries, applies the latest
technologies, and utilizes seismic survey results in the Western Desert.
As a result of the effective exploitation of the Masajid
geological formation and the assessment of its petroleum potential, total
production from the two latest wells in this formation reached around 12,000
barrels of oil equivalent per day. Cumulative production has reached 2 million
barrels of oil and 4.8 billion cubic feet of gas since production began from
the Iris-1XST discovery well in October 2024.
The company has drilled 10 wells, including Arcadia 27-ST,
Arc 28, Iris 2, 3, 4, 5, 7, 8, and Iris 3-ST, with its ambitious drilling
campaign still ongoing.
Agiba Petroleum also launched a well development initiative
in the South West Mleiha area, where six shallow wells were drilled over the
past eighteen months, contributing to total production of approximately 2,800
barrels of oil per day.
Development operations are continuing in the Jasmine area,
supporting the company’s expansion in the Western Desert. The new Jasmine 8-ST
well began production at the end of November, with a rate of 1,000 barrels of
oil per day.