Kuwait activates program to revive old oil and gas wells
The Egyptian Ministry of Petroleum and Mineral Resources is targeting an increase in local oil and gas production rates and maximizing the benefits of promising potential in various regions by “reviving” old wells to bring them back into production.
In this regard, the Egyptian South Valley Holding Company for Petroleum has begun implementing an integrated program to revive production wells in the Al-Buraka field in the Kom Ombo area of Aswan Governorate, through maintenance of existing wells and drilling new ones near the old ones.
The company stated that the “revival” program is being implemented in cooperation with the Canadian company Mediterra, by injecting new investments to support and develop production, and executing a maintenance program for a number of production wells, as well as drilling two new wells in the first phase, with the possibility of increasing the number of wells depending on the results of the work and technical studies.
Dr. Samir Raslan, Chairman of the Egyptian South Valley Holding Company for Petroleum, said, “Implementing the program is an important step toward reactivating production from the Al-Buraka field and utilizing the promising petroleum potential in the Kom Ombo area, which contributes to maximizing local production, achieving optimal use of resources, and securing the needs of the local market.”
A recent report covering Egyptian trade data for the first quarter of 2026 revealed a decline in the import and consumption rates of tea and coffee in Egypt. The quantity of imported coffee and beans reached approximately 9 billion Egyptian pounds, following a drop of 50,000 tons.
Foreign trade data indicated that Egypt imported approximately 97.021 million tons of fresh apples during the first quarter of this year, valued at around 84.632 million dollars.
For his part, the Central Bank of Egypt announced the sale of local treasury bills with maturities of 3 and 9 months worth 124 billion Egyptian pounds, surpassing the targeted liquidity collection of 110 billion pounds. Central Bank data showed that the average yield rate on 3-month treasury bills rose to approximately 24.4%, compared to 24.23% in the previous auction, while the average yield on 9-month treasury bills increased to approximately 25.47%, compared to 25.16% in the previous offering.
