Cairo – Mubasher: Belayim Petroleum Company (Petrobel) has a set a budget of $812 million for fiscal year 2020/2021, the company’s chairman Atef Hassan said.

The company has set an ambitious plan to raise crude oil output by increasing its activities in drilling development and exploratory wells, according to a statement by the Ministry of Petroleum on Sunday.

Petrobel has managed to reach a daily output 72,000 barrels of crude oil, the highest level in three years, Hassan pointed out.