Suez Oil ups Oil-Gas-Equivalent Productions to 50.000/day

Suez Oil Company (SUCO) currently produces around 50.000 barrels of equivalent oil and natural gas per day, chairman Mohamed Baydoon announced on Monday.

Suez Oil Company (SUCO) is a joint venture between RWE Dea (operator) and the Egyptian General Petroleum Corporation (EGPC).

According to Baydoon, SUCO is planning to increase production rates in the next fiscal year after its allocation of US$273 million approximately worth of targeted investments to implement the company’s strategy.

Suez Oil currently operates 3 fields located in the Red Sea area and Disouq in Nile Delta, Baydoon noted, saying those fields are triggering the company’s higher production rates.