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 | Egypt Oil & Gas - Part 4
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 Chairma ...
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 ...
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 produ ...
Petroleum Arrows to Raise Product Distribution by 5%
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
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 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 procedu ...
GUPCO Deal to Add 70,000 b/d to Dragon Oil Portfolio: CEO
The $600 million transaction is a part of Dragon Oil's $13 billion expansion plans, of which $500 million are allocated for acquisition transactions in 2019.
BP Seeks Approval to Sell GUPCO’s Stake
The Ministry of Petroleum will issue the approvals after Dragon Oil confirms its commitment to the new terms of agreement with BP in GUPCO's concessions.
