The Gulf of Suez Petroleum Company (GUPCO) has begun producing oil from another well in an offshore field in the Gulf of Suez, strengthening its oil arsenal off the coast of Egypt.
The Egyptian Ministry of Petroleum and Mineral Resources confirmed the completion of drilling work in a field South Al Wasl BB Exploration operations carried out by GAPCO well in South Al Wasl area Gulf of Suez, in partnership between the Egyptian General Petroleum Corporation and its investment partner Dragon Oil Company.
Well test results indicated production rates of approximately 2,500 barrels per day and 3 million standard cubic feet per day. The well was immediately connected to existing production facilities, which contributed to increasing the company’s overall production capacity.
According to GAPCO, the well has raised its total oil production to about 67 thousand barrels per day, which is the highest level achieved in a long period. This is seen as a positive indicator of the ability of the Gulf of Suez fields to recover higher production rates, driven by advanced technological applications, most notably 3D seismic surveying using Ocean Bottom Node (OBN) technology.
“This technology has enabled the identification of previously unresolved geological structures and has opened new exploration opportunities in potential areas with significant hydrocarbon potential.” The Egyptian Ministry of Petroleum and Mineral Resources confirmed.
At the beginning of the year, Gupco Brought online The Al Wasl 4 development well on the North Safa field platform in the Gulf of Suez, which raises its production to 65 thousand barrels of crude oil per day.
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