Gulf of Suez Petroleum Company (GUPCO) has successfully drilled a new exploratory well, “South Wastani BB,” in the South Wastani area of the Gulf of Suez, in partnership with the Egyptian General Petroleum Corporation (EGPC) and UAE-based Dragon Oil.
Initial tests showed production levels of around 2,500 barrels of oil per day and 3 million cubic feet of gas.
The well was immediately tied into existing production facilities, contributing to an increase in the company’s overall output.
GUPCO said the promising well has raised its total production to about 67,000 barrels per day, marking the highest level in a long time.
The company noted that this success reflects the potential of Gulf of Suez fields to restore higher production rates by relying on advanced technologies. Chief among these is 3D seismic surveying using ocean-bottom node (OBN) technology, which has enabled the identification of previously undetected geological structures and opened new prospects for exploration in areas with significant hydrocarbon potential.
