The Ministry of Petroleum and Mineral Resources announced a new oil discovery in the Gulf of Suez, achieved by GUPCO, the joint operations company between the Egyptian General Petroleum Corporation (EGPC) and the UAE’s Dragon Oil.
This follows the successful drilling of the exploratory well “Crystal Northeast Ramadan”, which is expected to be added to the production map in the coming days, with an estimated production rate of about 3,000 barrels of crude oil per day.
In a statement on Thursday, the ministry stated that this discovery is part of a series of recent successes in oil and gas exploration efforts.
The discovery was made using the latest technology, specifically Ocean Bottom Seismic (OBS), which allowed the identification of promising geological formations beneath the sea floor that could not have been accessed without this technology.
