North Safa field enters second phase with $170M investment

CAIRO – 5 July 2026: The Gulf of Suez Petroleum Company (GUPCO) has launched the second phase of development at the North Safa field in the Gulf of Suez, supported by investments from UAE-based Dragon Oil in partnership with the Egyptian General Petroleum Corporation.

The field is currently producing around 15,000 barrels of oil per day from five wells, according to a Ministry of Petroleum statement issued on Sunday.

GUPCO is set to bring an additional well online in the coming days as part of the project’s second phase. The well is expected to increase production by approximately 2,500 barrels per day.

Total investment in the two development phases of the North Safa field stands at around $170 million, as Egypt seeks to increase domestic crude oil production.

The second phase also included the completion of a permanent electricity connection between the field and the Ramadan-6 complex through a 10-kilometre subsea cable. The project linked the field’s surface facilities to the national power grid, replacing temporary energy solutions.

The new connection is expected to reduce operating costs by around $3,700 per day while eliminating diesel use in field operations. The move supports efforts to lower costs, improve environmental performance and increase returns on petroleum-sector investments.