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PICO International Petroleum (PIP) is revitalizing and optimizing production at small and medium sized mature fields, where its interests span the range of oil and gas upstream activity — from near field exploration, to full field development planning and operations.
PIP focuses on the development of mature oil and gas fields with upstream potential.
Using technical expertise and a controlled cost base, the company unlocks value at declining fields: PIP’s activities are aimed at maximizing reserves and realizing ultimate asset recovery at each of its fields.
From its base in the robust Egyptian mature fields region, PIP is actively expanding into international markets in need of its particular brand of expertise.
Across all operations PIP adheres to international industry best practice HSE standards ensuring the well-being of all employees, the general public and the environment.
- 1st and largest Egyptian independent producer
- 6 concessions both onshore and offshore in Egypt
- 5 operated concessions on behalf of IOCs and NOCs
- 122 millionbarrels equivalent of 2P reserves (working interest share)
- 22,000barrels of oil equivalent produced per day (gross production)
- 21,319barrels of oil equivalent produced per day (working interest production)
- 80:20 ratio of oil to gas production
- 300% historical reserve replacement ratio
- +$1 billionin oil and gas investments since 2005
- $1.2 billion of expected investments by 2015.
PICO International Petroleum
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