Operating companies in the Gulf of Suez region held a workshop at the Gulf of Suez Petroleum Company (GUPCO) headquarters to discuss strategies for improving performance and reducing well drilling costs.

The initiative aligns with the Ministry of Petroleum and Mineral Resources’ (MoPMR) strategy and directives from Karim Badawi, Minister of Petroleum and Mineral Resources.

During a recent inspection of the Belayim offshore 133 well in the Gulf of Suez, the minister emphasized the necessity of enhancing drilling efficiency and lowering expenditures, according to a statement by MoPMR.

Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), highlighted that optimizing well costs is a key pillar for achieving economic sustainability and increasing production.

The workshop addressed the development of well drilling and completion mechanisms, showcasing technologies designed to enhance performance while maintaining strict compliance with health, safety, and environment (HSE) standards.

Abdel Kerim called for greater integration among companies, including the optimal utilization of equipment and intensified knowledge sharing. He further underscored that EGPC will conduct monthly reviews of drilling performance across the Western and Eastern Deserts, the Gulf of Suez, the Nile Delta, and Sinai regions.

Participants in the workshop included GUPCO, Belayim Petroleum Company (Petrobel), PetroGulf, EGPC, and Amal Petroleum Company (AMAPETCO). Other attendees included South Abu Zenima Petroleum Co. (PetroZenima), Suez Oil Company (SUCO), and Offshore Shukeir Oil Company (OSOCO), as part of a framework to exchange technical expertise.