Egypt expands key oil field in Eastern Desert

STORY: Egypt expands key oil field in Eastern Desert DATELINE: May 31, 2023 LENGTH: 0:00:47 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Egypt's Ministry of Petroleum and Mineral Resources 2. various of the inauguration event STORYLINE: Egypt's Minister of Petroleum and Mineral Resources Tarek El Molla inaugurated Tuesday the expansion of the North Geisum oil field in the Petrogulf concession area in the Eastern Desert. The oil field has seen development and an increase in production and reserves. Petrogulf's production from the field jumped from 4,000 to 19,000 barrels of oil per day, and the confirmed reserve increased from 118 million to about 203 million barrels during the first half of the current year 2023. El Molla stressed that the new expansions and increased productivity come as a direct result of the ministry's strategy to increase and maximize the production of petroleum wealth, through the optimal exploitation of existing facilities. The expansion of the North Geisum o