The Gulf of Suez Petroleum Company (GUPCO) has started oil production from another well at an offshore field in the Gulf of Suez, further augmenting its oil arsenal off the coast of Egypt.
Egypt’s Ministry of Petroleum and Mineral Resources has confirmed the completion of drilling activities at the South Wasl BB exploration well carried out by GUPCO in the South Wasl area of the Gulf of Suez, in partnership between the Egyptian General Petroleum Corporation (EGPC) and its investment partner, Dragon Oil.
The well testing results indicated production rates of approximately 2,500 barrels per day (bbl/d) and 3 million standard cubic feet per day (scfd). The well has been immediately connected to the existing production facilities, contributing to an increase in the company’s overall production capacity.
According to GUPCO, the well has raised its total oil production to around 67,000 bbl/d, marking the highest level achieved in a considerable period. This is perceived to reflect a positive indicator of the Gulf of Suez fields’ capability to restore higher production rates, driven by advanced technological applications, most notably 3D seismic acquisition using ocean bottom node (OBN) technology.
“This technique has enabled the identification of previously unresolved geological structures, opening new exploration opportunities in prospective areas with significant hydrocarbon potential,” emphasized Egypt’s Ministry of Petroleum and Mineral Resources.
At the start of the year, GUPCO brought online the Al-Wasl-4 development well on the North Safa field’s platform in the Gulf of Suez, bolstering its production to 65,000 barrels of crude oil per day.