Egypt Launches First Production Well in North Safa Oil Field
Egypt’s Ministry of Petroleum and Mineral Resources announced the start of production at the first well of the North Safa oil field, located offshore in the Gulf of Suez, on Monday. This development is part of Egypt’s strategy to accelerate the development of its explored wells, aiming to strengthen national energy security and potentially increase export revenues.
The Gulf of Suez Petroleum Company (GUPCO), responsible for the field’s development, reported that the first well has a production capacity of 2,500 barrels per day. A second well, currently under construction, is anticipated to be completed by mid-January, which will boost the field’s output to 6,000 barrels per day. This increase marks the targeted rate for the field’s initial phase of early production.
Plans are underway to drill an additional seven wells, which will eventually elevate the field’s output to 12,000 barrels per day. The first phase of the project, involving a $125 million investment, was executed by a coalition of Egyptian companies, including Enppi, Petrojet, and Offshore Petroleum Services. This phase included the installation of a production station and the extension of two production lines.
GUPCO, a joint venture between the Egyptian General Petroleum Corporation and the UAE state-owned Dragon Oil, spearheads the development of the North Safa field.
