On 25/11/2007, Eng. Sameh Fahmi, Minister of Petroleum, visited the oil fields in the Gulf of Suez and South Sinai, where he followed up the implementation stages of putting offshore Sakkara field of GUPCO, on stream.
Geo. Refaat Khafaga, GUPCO Chairman clarified that production of the new field will start-up by the beginning of 2008, with a production capacity of 20 thousands barrels daily of crude oil and 20 million cubic feet of gas to increase to reach 30 thousand b/d of crude oil and 27 million cubic feet of gas by the end of the 1st quarter of 2008. Total project investments reached about $366 million, spent by the British company (BP).
During the visit, the Minister of Petroleum followed up the projects of production facilities infrastructure innovation at the Gulf of Suez area. The projects are currently executed in cooperation with BP, which is committed to spend $600 million for 5 years.
On the other hand, the Minister of Petroleum visits the fields of Belayim Petroleum Company “Petrobel” at Abu Rudeis at South Sinai. The Minister visited the project of developing Belayim power station to meet the future needs of energy for petroleum fields, and water injection through adding 2 new units with a capacity of 20 megawatt in which the total capacity of Belayim power plant will reach about 65 megawatt.
Eng. Medhat Elsayed, Chairman of Petrobel declared that the company’s fields production in Sinai has been raised to about 145 thousand boe/ day representing about 30% of the company’s total production of oil and gas which reached a record level of more than 500 thousand boe/day from its scattered fields in the Gulf of Suez, Sinai, Delta, and the Mediterranean. It is considered the highest production ever achieved in the Petroleum Sector.
He also noted that many projects are currently being implemented for the expansion and modernizing crude oil production facilities of the company’s fields along with executing new mega projects in the Mediterranean to encompass the great increase in natural gas production.