El Molla Lays Foundation Stone for GPC’s Integrated Plant

Minister of Petroleum and Mineral Resources, Tarek El Molla, laid the foundation stone for the General Petroleum Company (GPC)'s project to convert the Hamad onshore station into an integrated treatment plant at an investment cost estimated at about EGP 1 billion

El Molla Follows Up on Oil, Gas Projects in Gulf of Suez, Ras Ghareb

The projects visited by El Molla included new production facilities for the GUPCO and GPC to follow up work programs and development plans to increase production rates and support the volume of oil and gas reserves.

GUPCO Produces 61,000 b/d Crude Oil in 2020/21

GUPCO drilled 7 new wells, of which the most recent were added to production during Q1 2021/22 with a 1000 b/d crude oil production rate.

New Transfers Movement in Petroleum Sector

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

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

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

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

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, 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

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.

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