Minister of Petroleum and Mineral Resources, Tarek El Molla met with Saeed Mohammed Al Tayer, Chairman of Dragon Oil, and his accompanying delegation on the second day of Egypt Energy Show (EGYPES 2024).

During the meeting, the company’s activities in Egypt and its targeted plans to increase production rates were reviewed in addition to drilling a number of developing wells and implementing several projects.

Al Tayer also reviewed the development of  North Safa exploration well in the Gulf of Suez region, in which the company achieved in partnership with the Egyptian Petroleum Authority through GAPCO, the first development well with production of 2,500 barrels per day (bbl/d), and with the completion of the development stages, its production estimated to reach 6,000 bbl/d.

For his part, El Molla noted that this cooperation with Dragon Oil is not new in light of the distinguished relations between the two countries, and that Dragon Oil’s investments in the Egyptian petroleum sector are a living example of expanding production and growth.

Notably, the meeting was attended by Alaa El Batal, CEO of the Egyptian General Petroleum Corporation (EGPC), and Sherif Hassaballa, Undersecretary for Petroleum at the Ministry of Petroleum and Mineral Resources.