Egypt to launch OBN seismic survey in Gulf of Suez

Egypt will launch a seismic survey covering 1,035 square kilometres in the central and southern Gulf of Suez next month under a new contract signed on Sunday between Gulf of Suez Petroleum Company (GUPCO) and SLB, Petroleum and Mineral Resources Minister Karim Badawi said.

The project, the largest of its kind using ocean bottom node (OBN) technology in the region, aims to identify promising oil opportunities, reduce exploration risks, and attract investment to increase domestic production.

The project builds on cooperation between the Egyptian General Petroleum Corporation (EGPC) and Dragon Oil, GUPCO’s investment partner.

Badawi highlighted that Dragon Oil’s use of modern technology and investments in its operating areas had helped raise GUPCO’s field production to its highest levels since 2019. He stressed the importance of modernising geological data and increasing investment to improve exploration results and maximise the use of existing production assets.

The minister added that the Ministry’s strategy extends beyond the Gulf of Suez to seismic survey projects in new areas across Egypt to expand oil and gas exploration.