Egyptian Minister of Petroleum, Tarek El Molla, headed a general assembly of Agiba Petroleum Company to review fiscal results for 2015/2016.

Agiba’s Chairman, Osama Elbakly, said that the company has drilled 35 wells, including 4 exploration wells, in addition to carrying out 166 maintenance works in wells during financial year 2015/2016, that ended June 30.

Agiba has started executing a project to produce associated gas in Maleha concession area during  the current fiscal year that delivered 189mcf of gas .

During the meeting, El Molla emphasized the importance of the West Desert Area with possible high petroleum reserves. He added that studies conducted by oil and gas firms operating in the area, together with the reprocessing of seismic data from geographical maps, yielded encouraging results that have very positive affects on exploration actives.

The assembly was attended by the Petroleum Ministry’s First Undersecretaries, Mohamed Taher and Mohamed Moanes, as well as Egyptian General Petroleum Company’s Chairman, Tarek Al Hadidi, and Egyptian Natural Gas Holding Company’s President, Mohamed El Masry.