Gulf of Suez Petroleum Company (GUPCO) has completed the drilling of a new exploratory well, South Al-Wasl B.B, in the Gulf of Suez. Well tests yielded production rates of about 2,500 barrels of oil per day(bbl/d) and 3 million cubic feet of gas per day (mmcf), and the well was immediately tied into existing production facilities, thereby raising the company’s overall production capacity. GUPCO is a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and its UAE-based investment partner, Dragon Oil, which bought bp’s share in the company in 2019.

A Photo of the South Al-Wasl BB well in the Gulf of Suez (source: the MoPMR)

Following successful testing, the well was immediately tied into existing facilities, which boosted the company’s total capacity to approximately 67,000 bbl/d, a milestone reached for the first time in several year, according to a Ministry of Petroleum and Mineral Resources (MoPMR) statement on April 7.

The discovery was driven by the application of advanced 3D seismic survey technology using Ocean Bottom Nodes (OBN). This high-resolution geophysical technique has enabled the detection of previously unknown geological structures and opened new horizons for exploration in promising areas with large oil reserves, as noted by the MoPMR.

Notably, the drilling of North Al-Wasl B.B well follows the recent development of the Al Wasl-4 well in January within the North Safa field in the Gulf of Suez. Since achieving first production in 2024, the North Safa field has been developed through an integrated project involving the construction of a new offshore production platform and the installation of connecting subsea pipelines.