Gulf of suez: The Gulf of Suez Petroleum Company (GUPCO) has announced the commissioning of the second phase of the development project for the 'North Saffa' oil field in the Gulf of Suez. This project is undertaken in partnership with Emirati firm Dragon Oil and the Egyptian General Petroleum Corporation. The development aligns with the first pillar of the Ministry of Petroleum and Mineral Resources' strategy aimed at increasing crude oil production and maximizing the use of existing fields.

According to State Information Service Egypt, current production from the 'North Saffa' field stands at around 15,000 barrels per day from five producing wells. The company is preparing to add a new well in the coming days, marking the first output from the second phase of the project, with an expected production of 2,500 barrels per day. This initiative supports efforts to boost domestic output and reduce import costs.

The ministry stated that the North Saffa development project is a key initiative to increase crude oil production, with total investments across its two phases reaching about $170 million. The second phase included the completion of the electrical connection of the field to the 'Ras Gharib-6' complex via a 10-kilometer subsea cable. This links the field's surface facilities to the permanent power grid instead of temporary solutions.

This development is expected to generate savings of around $3,700 per day in operating costs, in addition to eliminating the use of diesel for operations. These efforts support the petroleum sector's push toward environmental sustainability, cost efficiency, and maximizing investment value.