Akakus Oil Operations Company announced today that, since September 2023, it has drilled 10 vertical and horizontal wells using the latest technologies such as Performance Drilling as well as Geosphere. This has reduced the drilling period by 20%, it explained.
During this period, Akakus added, maintenance work was also carried out on 18 wells, drilled wells were completed, catching, stimulation and other maintenance work was conducted. The production capacity of these wells reached about 24,921 barrels per day.
This activity, Akakus said, comes as part of the National Oil Corporation’s (NOC) plan to increase oil production.
Separately, the NOC chairman reiterated today that he plans to increase oil production from the current 1.2 million bpd to 2 million bpd by the end of 2025.
