Corporate long-term goal is to achieve a sustainable production of 20,000 bopd and 2P reserves of 100 million barrels through the drill-bit and further enhanced with acquisitions. Currently, as on of the most active operators in Egypt, and with over 400 development locations (2P) and 4 drilling rigs and 3 workover rigs we are marching towards our corporate goal.
Our strategy is “to build a sound business” by bringing the right RESOURCES and COMPETENCIES together to EXECUTE projects in a timely and cost-efficient manner. Our focus at Mediterra has been to build a portfolio of assets which will generate sustainable long-term reserves and production growth , thus providing strong economic returns througout the commodity price cycles.
Near-term strategy: Continue to identify under-capitalized development opportunities where we can implement our core strategy of building a sound business. Using our experience to enhance the value of low risk reserves by applying the most appropriate technologies and operational excellence. Production growth through drill-bits is our top priority.
Long-term strategy: To diversify our portfolio combining strong and stable production/cashflow assets with exploration opportunities where we can bring high-risk/high-reward assets, without compromising the underlying business.
To become an Oil and Gas Company of choice for all stakeholders including shareholders, Governments, team members, local communities, and service providers.
To be the best performing Canadian upstream oil & gas company, with a portfolio of assets in Africa and the Middle East. Performance being measured by generating long term sustainable reserves and production growth and providing strong economic returns for our shareholders, local Governments, suppliers while working to improve the environmental footprint of the operations. This can be achieved by building a company that can endure commodity price cycles and by leveraging our technical, operational, and business experience.