New oil discovery in Egypt
Cairo, January 20 / WAM / The Egyptian Ministry of Petroleum and Mineral Resources announced the success of the Gulf of Suez Petroleum Company (GUPCO) in starting production from the “Al Wasl-4” development well in the North Safa field, at a rate of 2,250 barrels of crude oil per day and about 1.3 million cubic feet of gas per day, which contributed to raising the company’s total production to about 65 thousand barrels of crude oil per day.
The Ministry stated in a statement today that the “Al-Wasl-4” well comes within the company’s plan for the year 2026, and the North Safa field is one of the most important discoveries in the Gulf of Suez, as actual production began in 2024, with the implementation of a development project that includes an offshore production platform and a water injection program in three wells to maximize production rates and prepare for the second phase of field development.
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