CAIRO - 21 July 2026: Gulf of Suez Petroleum Company has raised its crude oil production to 71,250 barrels per day, its highest level since July 2019.
The increase reflects the impact of the Ministry of Petroleum and Mineral Resources’ efforts to settle overdue payments to international partners and restore production levels. The measures are part of a broader strategy to strengthen domestic output by accelerating drilling, exploration and field development.
A major contribution came from the rapid development of the offshore North Safa field in the Gulf of Suez. Following the start-up of the SB293-9 well, the field’s total production surpassed 18,000 barrels per day.
Development activities included installing a new offshore platform, constructing connecting pipelines and upgrading the field’s production systems.
GUPCO also commissioned a new turbine compressor at the M36 station under Phase IV, improving the efficiency and productivity of existing wells.
Alongside its development work, the company continued exploration activities by drilling the Crystal North East Ramadan well from the El-Fanar offshore platform, supporting prospects for further production increases.
The results underscore the success of the partnership between the Egyptian General Petroleum Corporation and the UAE’s Dragon Oil in bringing new projects and discoveries into production.
They also pave the way for more ambitious drilling, exploration and field development programs across the Gulf of Suez.
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