Suez Oil Company (SUCO) current production has reached 23,500 barrels of  oil equivalent (boe/d) of crude oil and natural gas from its four fields in the Gulf of Suez and onshore Nile Delta fields, said Adel Fahmy,company head, Egypt Oil & Gas reports.

The company is implementing an ambitious program to boost production from the four fields which are; Desouq, Ras Badran, El Zeit Guf, and Ras Fanar to reach 38,000 boe/d through drilling new wells and maintaining a number of wells, as well as rehabilitating the infrastructure and production facilities, Fahmy stated.

Fahmy pointed out that Desouq field has been developed to link 12 new wells to the production map to increase its production to 140 milliom standard cubic feet per day (mmscf/d) by the end of the next year, as well as preparing many plans to explore the field to boost its production level.

SUCO plans to invest $192 million during fiscal year (FY) 2018/19 to increase its investments to $206 million in FY 2019/20, Fahmy noted.

This came during the visit of the Minister of Petroleum Tarek El Molla, to Gabal El Zeit concession in the Gulf of Suez to follow up several companies working on the region.