GUPCO

  • New Transfers Movement in Petroleum Sector

    New Transfers Movement in Petroleum Sector

    Tuesday, 6th April 2021

    The Minister of Petroleum and Mineral Resources, Tarek El Molla, has issued a new transfers movement among the petroleum sector to support the petroleum companies and sites with the needed competences and expertise that could achieve the future goals.

  • GUPCO to Invest $562 MM in FY 2020/21

    GUPCO to Invest $562 MM in FY 2020/21

    Wednesday, 3rd March 2021

    The Chairman of Gulf of Suez Petroleum Company (GUPCO), Mohamed El Meligy, stated that the company has allocated $562 million its planning budget for the fiscal year (FY) 2020/2021 for investments to implement projects in its fields.

  • GUPCO’s Production Averages at 57,000 bbl During FY 2019/20

    GUPCO’s Production Averages at 57,000 bbl During FY 2019/20

    Tuesday, 1st September 2020

    Gulf of Suez Petroleum Company’s (GUPCO) daily production has averaged around 57,000 barrels (bbl) during fiscal year (FY) 2019/20, and managed 20% in cost reduction per barrel last June.

  • GUPCO Targets Production of 77,000 BBL/D in FY 2020\21

    GUPCO Targets Production of 77,000 BBL/D in FY 2020\21

    Monday, 17th February 2020

    The Gulf of Suez Petroleum Company (GUPCO) has approved a budget of around $543 million to achieve a production rate of around 77,000 barrels per day of crude oil (bbl/d) in Fiscal Year (FY) 2020\21, GUPCO Chairman, Mohamed El Meligy said.

  • Dragon Oil Celebrates Acquisition Amid Egypt’s Investment Climate

    Dragon Oil Celebrates Acquisition Amid Egypt’s Investment Climate

    Monday, 13th January 2020

    The Minister of the Petroleum and Mineral Resources, Tarek El Molla has witnessed the acquisition agreement ceremony of Dragon Company to the share of BP Company in a GUPCO concession costing $ 500 billion.

  • Dragon Oil Acquires BP’s Stake in GUPCO

    Dragon Oil Acquires BP’s Stake in GUPCO

    Monday, 21st October 2019

    Dragon Oil, the fully owned exploration and production (E&P) platform of Emirates National Oil Company (ENOC), announced that it has acquired the stake of BP at the Gulf of Suez Oil Company (GUPCO) after obtaining the approval from the Egyptian Ministry of Petroleum and Mineral Resources.

  • GUPCO Follows Up on Ras Shouqair’s Production Processes

    GUPCO Follows Up on Ras Shouqair’s Production Processes

    Sunday, 20th October 2019

    Khaled Hemdan, the Gulf of Suez Petroleum Company's (GUPCO) Chairman, went to Ras Shouqair on a visit to follow up on the production processes and be updated about the company’s plans to raise Ras Shouqair’s production rates.

  • Petroleum Arrows to Raise Product Distribution by 5%

    Petroleum Arrows to Raise Product Distribution by 5%

    Monday, 26th August 2019

    Petroleum Arrows aims to increase the distribution rate of the industrial gases, ammonia and high-grade propane, and transporting the petroleum products with 5% by the end of Q4 in 2019.

  • GUPCO’s Crude Oil Production Reaches 61,700 b/d

    GUPCO’s Crude Oil Production Reaches 61,700 b/d

    Monday, 26th August 2019

    The Gulf of Suez Petroleum Company’s (GUPCO) average production level from its Ras Shouqair crude oil field has reached around 61.7 thousand barrels per day (b/d) in fiscal year (FY) 2018/19.

  • Dragon Oil Acquires BP’s Stake in GUPCO

    Dragon Oil Acquires BP’s Stake in GUPCO

    Monday, 3rd June 2019

    Dragon Oil has reached a full agreement with BP for the acquisition and the deal is expected to be completed after obtaining the Egyptian Ministry of Petroleum’s approval in H2 2019 following the necessary procedures.