Egypt’s Gulf of Suez Petroleum Company (GAPCO) has lifted crude output to 71,250 barrels per day, its highest level since July 2019, after the government moved to settle outstanding payments owed to foreign partners, the Petroleum Ministry said.

The ministry credited the rise to its programme of clearing partner arrears, part of a wider strategy to boost domestic production through intensified drilling, exploration and field development.

Much of the gain came from accelerated work at the North Safa Field in the Gulf of Suez, where the new SB293-9 well helped push the field’s output above 18,000 barrels per day. The project included a new offshore platform, additional pipelines and upgraded production facilities, while a newly commissioned turbine compressor at the M36 station is improving performance across existing wells.

GAPCO also continued exploration by drilling the Crystal North East Ramadan well from the Al Fanar offshore platform, part of efforts to add fresh hydrocarbon reserves. The ministry said the projects reflect deepening cooperation between the Egyptian General Petroleum Corporation and UAE-based Dragon Oil, as Cairo works to reverse years of declining oil and gas output by fast-tracking field development and settling arrears to attract investment.

Source: en.amwalalghad.com