Earlier this week, the Egyptian Ministry of Petroleum and Mineral Resources announced the beginning of production at the first well of the North Safa oil field, located offshore in the Gulf of Suez.
This decision is an essential part of Egypt’s plan to expedite the development of its wells that have been explored to boost export earnings and enhance the country’s energy security.
The field’s development is supervised by the Gulf of Suez Petroleum Company (GUPCO), which stated that the first well can produce up to 2,500 barrels per day.
By mid-January, a second well that is currently under construction should be finished, increasing the field’s daily production to 6,000 barrels. The goal rate for the field’s first early production phase is indicated by this increase.
With the drilling of seven more wells, the field’s production will eventually reach 12,000 barrels per day. Using a $125 million investment, a group of Egyptian businesses led by Enppi, Petrojet, and Offshore Petroleum Services carried out the project’s initial phase. Two production lines were extended and a production station was installed during this phase.
The North Safa field is being developed by GUPCO, a joint venture between the Egyptian General Petroleum Corporation and the state-owned Dragon Oil of the United Arab Emirates.
