Gulf of Suez Petroleum Company (GUPCO) has successfully drilled a new exploratory well (South Wasl BB) in the South Wasl area of the Gulf of Suez, in partnership between the Egyptian General Petroleum Corporation (EGPC) and its investment partner Dragon Oil.
Well testing results indicated production rates of approximately 2,500 bbl/d and 3 MMSCFD. The well has been immediately connected to the existing production facilities, contributing to an increase in the company's overall production capacity.
GUPCO stated that this promising well has raised the company's total oil production to around 67,000 bbl/d, marking the highest level achieved in a considerable period.
This achievement reflects a positive indicator of the Gulf of Suez fields' capability to restore higher production rates, driven by advanced technological applications—most notably 3D seismic acquisition using Ocean Bottom Node (OBN) technology. This technique has enabled the identification of previously unresolved geological structures, opening new exploration opportunities in prospective areas with significant hydrocarbon potential.
