Egypt’s GAPCO raises oil output to highest level since 2019
Egypt’s Gulf of Suez Petroleum Company (GAPCO) has raised crude oil production to 71,250 barrels per day, its highest level since July 2019, following government efforts to settle outstanding payments owed to foreign partners, the Petroleum Ministry said Tuesday.
The ministry said the increase reflects the impact of its programme to settle partners’ dues, part of a broader strategy to boost domestic oil production through intensified drilling, exploration and field development.
Production was supported by the accelerated development of the North Safa Field in the Gulf of Suez, where the SB293-9 well was brought into production, lifting the field’s total output to more than 18,000 barrels per day. The project included the installation of a new offshore platform, the laying of connecting pipelines and upgrades to production facilities.
GAPCO also commissioned a new turbine compressor at the M36 station to improve the performance of existing wells and increase production.
The company continued its exploration programme by drilling the Crystal North East Ramadan exploration well from the Al Fanar offshore platform as part of efforts to identify additional hydrocarbon reserves and support future production growth.
The ministry said the projects reflect ongoing cooperation between the Egyptian General Petroleum Corporation (EGPC) and UAE-based Dragon Oil to accelerate field development and bring discoveries into production in the Gulf of Suez.
Egypt has been seeking to reverse the decline in domestic oil and gas production by accelerating field development and settling arrears owed to foreign energy companies to encourage investment and increase output.