GUPCO Exceeds Production Target

GUPCO Exceeds Production Target

Gulf of Suez Petroleum Company (GUPCO) surpassed its production targets for the month of July, Egypt Oil & Gas reports.

In July, the company produced 440,773 barrels of oil equivalent (boe), 170% of the 259,213 boe it had targeted.

It also produced 2,546,100 barrels of oil and 69,973 barrels of condensates for a combined total of 2,616,073 barrels—or 104% of its targeted production rate.

GUPCO produced approximately 72,500 barrels per day (b/d) of oil and condensates during fiscal year (FY) 2016/2017, the Head of GUPCO, Nabil Salah, had previously stated.

The company has reserves of 345 million barrels of crude oil and 771 billion cubic feet (bcf) of natural gas.

Sarah Samir 3292 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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