Canadian independent TransGlobe saw its Egypt output rise to 14,633 b/d for Q2, the highest quarterly figure since 2015. The key boost came from the Eastern Desert’s West Bakr license, situated on the western bank of the Gulf of Suez. Here Q2 output rose 16% to 9,389 b/d following the drilling of two development wells.
However with the firm guiding average Egypt output of 12,950-13,750 b/d for 2019 as a whole, versus actual output of 14,100 b/d for the first seven months of 2019, it evidently expects production to slump in the remainder of 2019. Egypt is aiming to raise overall oil output by 10% to 690,000 b/d mid-2020 (MEES, 16 August). (CONTINUED - 235 WORDS)