The ancient and promising oil fields of the Gulf of Suez are witnessing a technological renaissance, as Egypt’s Ministry of Petroleum and Mineral Resources, in collaboration with strategic partners, focuses on harnessing cutting-edge technologies to boost oil production. Under the leadership of Eng. Karim Badawi, Minister of Petroleum, the initiative aims to unlock new reserves and enhance existing production capacities, offering a promising future for the region.
During the Egypt International Energy Exhibition “EGYPS 2025”, Minister Badawi praised UAE’s Dragon Oil for its pivotal role in modernizing exploration and production operations. The company’s implementation of advanced technologies like the Ocean Bottom Node (OBN) seismic survey has already led to the discovery of significant new reserves, showcasing a commitment to innovation and efficiency.
Eng. Ali Rashid Al Jarwan, Chairman of Dragon Oil, expressed pride in the partnership with Egypt and emphasized the role of artificial intelligence in refining exploration techniques. He noted, “Our strategic integration of AI aims to streamline operations, reduce production costs, and ensure maximum yield from the Gulf’s rich resources.”
Eng. Abdel Wahab El Maghawry, Chairman of GUPCO, outlined ambitious production goals, targeting 70,000 barrels per day by 2025/2026, backed by a $585 million investment budget. The North Safa project stands as a testament to GUPCO’s accelerated efforts, with expectations to add 2,500 barrels per day to Egypt’s output. Additionally, plans are underway to drill six new wells, aimed at an initial production of 11,360 barrels per day, coupled with infrastructure modernization to enhance operational efficiency and environmental safety.
