Minister of Petroleum and Mineral Resources Tarek El Molla laid the foundations for the General Petroleum Company (GPC)’s project to convert the Hamad onshore station into an integrated treatment plant at an investment cost of about EGP 1 billion, the ministry said in a statement.

The plant aims to improve processing operations, increase operational capacity, treat oils, and optimize production of GPC and other companies operating in the Ras Ghareb and Shukair regions in the Gulf of Suez.

This came during El Molla’s visit to follow-up on projects in the Ras Ghareb and Shukair regions in the Gulf of Suez.

The procedures for correcting the price distortions of fuel effectively contributed to providing the financial resources necessary to implement the development plans for the infrastructure and facilities in the production companies, El Molla noted.

During the tour, Gulf of Suez Petroleum Company (GUPCO) reviewed the preliminary results of the $49 million new seismic survey project in the central Gulf of Suez using the latest technologies in the field of seismic surveying. The review showed that seven development wells are set to be drilled during the upcoming period. Additionally, a technical study will be performed for six wells, of which three will be exploratory.