The Gulf of Suez Petroleum Company (GUPCO), a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Dragon Oil, has announced a successful new discovery in the South Wasl exploration zone, located in the Gulf of Suez. The “South Wasl BB” well has reached a production of approximately 2,500 barrels of oil per day, as well as 3 million cubic feet of natural gas per day, confirming the energy potential of this strategic area.
The well was quickly connected to the existing production network, allowing for accelerated exploitation and optimization of development costs.
Thanks to this new discovery, GUPCO’s total production now reaches nearly 67,000 barrels per day, strengthening the Gulf of Suez’s contribution to Egypt’s energy supply and the country’s efforts to stabilize its hydrocarbon production.
The company also emphasizes the crucial role of advanced exploration technologies in this success. The use of 3D seismic based on Ocean Bottom Nodes (OBN) technology has helped identify new promising geological structures and open up additional exploration prospects in the area.
This discovery is part of Egypt’s strategy to intensify exploration activities and maximize national oil and gas production to meet growing domestic demand and support the country’s energy exports.
