GUPCO will drill 5 new petroleum wells offshore Egypt

The Gulf of Suez Petroleum Company (GUPCO) will drill five new developmental petroleum wells in the North Safa and Al-Wasl fields offshore Egypt to develop a reserve surpassing 100 million barrels and increase production to 15,000 barrels daily during the second half of 2025.

The project’s total investments, including drilling wells, establishing production facilitation platforms and extending offshore pipelines, are valued at around $226 million, according to a statement by the Egyptian Ministry of Petroleum and Mineral Resources on Thursday, citing GUPCO Chairman and Managing Director Salah El-Din Abdel-Karim.

Minister of Petroleum and Mineral Resources Karim Badawi visited the production facilitation platform of the North Safa marine field in the Gulf of Suez’s Northeast Ramadan concession area, which belongs to GUPCO and the Emirati company Dragon. He encouraged workers to regularly review the latest technologies to improve operational efficiency and increase production rates.