GUPCO Kicks Off Production at North Safa Oil Field in Gulf of SuezSource: www.export-egypt.com 1/1/2024, Location: Africa |
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The Gulf of Suez Petroleum Company (GUPCO) has successfully brought the first well of the North Safa oil field in the northeastern Ramadan region of the Gulf of Suez online.
This achievement marks a strong start to the new year and aligns with the Ministry of Petroleum and Mineral Resources’ (MoPMR) strategy to bolster national crude oil production. The swift startup of the North Safa well reflects GUPCO’s commitment to accelerating the development of proven reserves and maximizing resource utilization. This success will contribute to strengthening Egypt’s energy security and potentially boosting export revenues. Minister of Petroleum and Mineral Resources, Tarek El Molla, followed developments of the implementation of the early production plan from the North Safa oil field with Salah Abdel Karim, Chairman of GUPCO. The first phase of the early production project from the field aims to reach 6,000 barrels per day (b/d) in mid-January after the first well was placed on the production map at a rate of 2,500 b/d. The second well is being completed in mid-January, bringing production to the targeted rates, and it is planned to increase it again to 12 thousand barrels per day through implementing an ambitious plan to drill 7 new wells. It is noteworthy that the first phase of early production in the North Safa field was implemented by a coalition of Egyptian companies that includes Enppi, Petrojet, and Offshore Petroleum Services to establish and install the North Safa production station, and extend two production lines of 10 and 11 km in length, with a total investment of $125 million. |
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