Eng. Sameh Fahmy, Minister of Petroleum announced that the fields’ production of the whole state owned company, the General Petroleum Co. (GPC) was raised by 40% after operating the four wells of AL Hamad field with a production capacity of 13.5 thousand bpd, 30% of the company’s current total production.
This announcement came during the minister’s visit to to the production and development projects of Al-Hamad and Sakkara Fields at the Gulf of Suez. The minister added that the investments of the offshore Sakkara field development project at Ras Shukair area, owned by the Gulf of Suez Petroleum Company (Gupco), are about $366 million and production capacity of 40 thousand bpd which is considered one of the biggest crude oil discoveries at the Gulf of Suez area since 14 years.
Fahmy cleared out, during his meeting with the workers at the oil fields locations in the Eastern Desert at the Red Sea, that intensifying oil and gas upstream activities in Egypt is considered as a national strategy undertaken by the Petroleum Sector to meet the increasing rates in domestic consumption of oil and its derivatives, and exports.
Eng. Reda Mustafa, GPC Chairman pointed out that total recoverable proven reserves of Al- Hamad field’s wells reach about 59 million barrels. It is expected the addition of more reserves with the completion of exploration programs, and drilling more wells. 2 new wells (El Hamad 5, 6) are expected to be drilled so that production will reach 20 thousand b/d.
Geo. Refaat khafagy, Chairman of Gupco, declared that Sakkara offshore field development project includes an offshore platform comprising nine production wells beside the latest technical production facilities, remote-controlled operating system.
The project contains an offshore pipeline and an onshore processing station to separate oil, gas and water. Production of Sakkara field is planned to start by the end of the year.
The minister listened to a description about Gupco’s infrastructure rehabilitation of production facilities which ranges between 20-40 years exceeding its life span in order to achieve long-term safety enhancement as well as expanding its economic life.
Gupco’s Chairman reviewed the project of discovering and developing Gulf of Suez 327 offshore field, North West Al Tor city and south east Al Morgan field, of which reserves reach 17 million barrels and it is going to start production during the current month with a production rate of about 10 thousand barrels daily.