GPC Oil Production Hit 97.400 Barrels a Day

The state-owned General Petroleum Company (GPC) said that its total production hit 97,400 barrels per day in the first half of the current fiscal year 2018-2019.

The GPC production from its own fields reached the highest ever level at 63, 600 barrels of oil equivalent, Chairman Nabil Abdel Sadek said.

He noted that a newly adopted strategy cut production cost by 12 percent.

He made the remarks at a general assembly meeting held to approve the budget of the next fiscal year 2019-2020.

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