Cairo: North Bahariya Petroleum Company (NORPETCO) has successfully completed its first development well for the fiscal year 2026/2027 drilling program, achieving the target depth earlier than planned and resulting in significant cost savings.

According to State Information Service Egypt, the Abrar-98 well, situated in NORPETCO's Western Desert concession, reached its final depth in just nine days, ahead of the scheduled 13 days. This expedited completion saved an estimated $250,000. The accomplishment was confirmed in a statement released by the company.

During a visit to the company's fields, Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), emphasized the importance of accelerating execution while upholding occupational health, safety, and environmental standards, alongside cost discipline. These measures are crucial to achieving the company's drilling and production targets.

NORPETCO credited this milestone to meticulous well planning, optimal well design, and the use of modern drilling technologies that entirely eliminated non-productive time and enhanced drilling efficiency. Furthermore, the company reduced expenses by repairing and reusing worn drill bits.

The company highlighted that effective operational monitoring, prompt decision-making, and close coordination among field teams were key factors in completing the well safely and efficiently. This achievement aligns with the company's goals to support Egypt's production growth, improve operational performance, and maximize the added value of the sector's assets.

NORPETCO, a joint venture between the Egyptian General Petroleum Corporation (EGPC), Sahara North Bahariya, Graystone, and INA-Nafta, was established in 2004. The company operates a 117-square-kilometer concession in the Western Desert.