Arab Finance: Belayim Petroleum Company (Petrobel) has injected investments worth $737 million into exploration, development, and operation of natural gas and oil fields in 2022, Ministry of Petroleum and Mineral Resources stated on September 18^th.

The company’s production of oil, natural gas, condensates, and butane during 2022 amounted to about 93 million barrels of oil equivalent.

Petrobel has also drilled a number of exploratory wells, the most important of which is the South Qaraa-1 well.

Production from the well started in February, with an average production rate of 9 million cubic feet daily, in addition to 100 barrels of condensate, with a total reserve estimated at about 2 million barrels of oil equivalent.

The statement also revealed that the average daily production of natural gas Zohr field during the fiscal year (FY) amounted to about 2.4 billion cubic feet and about 3,700 barrels per day of condensates.

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