Gulf of Suez Petroleum Company (GUPCO), the joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and the UAE’s Dragon Oil, has raised its crude oil production to 71,250 barrels per day (bbl/d), marking the company’s highest output level since July 2019.

This reflects the positive impact of the Ministry of Petroleum and Mineral Resources (MoPMR)’s success in settling investment partners’ dues, which has helped restore production levels as part of its strategy to support domestic output through intensified drilling, exploration, and field development activities, the ministry said in a statement.

The accelerated development of the North Safa offshore field in the Gulf of Suez contributed to this increase, following the start of production from well “SB293-9,” which raised the field’s total output to more than 18,000 bbl/d. Development works included the construction of a new offshore platform, the laying of tie-in pipelines, and upgrades to the production system.

GUPCO also succeeded in commissioning a new turbine compressor at the M36 station in Phase Four, helping to enhance the efficiency of existing wells and boost their productivity.

In parallel, the company continued its successful exploration activities by drilling the Northeast Ramadan Crystal (NER-1X) exploratory well from the Al-Fanar offshore platform, thereby strengthening prospects for sustained production growth.

These results reflect the success of the partnership between the EGPC and Dragon Oil in turning new projects and discoveries into actual production, supporting the launch of more ambitious drilling, development, and exploration programs in the Gulf of Suez region.

Earlier in July, GUPCO announced the entry of the second phase of the North Safa field development project into service. The North Safa field development project remains a major initiative to increase crude oil production, with total investments across its two phases reaching approximately $170 million.