Dragon Oil, in partnership with Gulf of Suez Petroleum Company (GUPCO), has successfully completed initial exploration drilling at the East Crystal well in the Gulf of Suez.
- Initial production: Over 2,000 barrels per day (bpd)
- Potential output increase: Aiming to exceed 5,000 bpd
- Estimated reserves: 8 million barrels
The discovery is a significant milestone, reinforcing Egypt’s petroleum sector strategy to boost domestic production and maximize resource utilization.
Advanced Techniques for Enhanced Production
Dragon Oil is currently conducting further evaluations using cutting-edge technologies to optimize well performance.
CEO Ali Rashid Al Jarwan emphasized that the use of modern exploration techniques is crucial in revitalizing mature fields and ensuring sustainable oil production.
“These results demonstrate our commitment to long-term production sustainability, in line with our contract duration. We are focused on achieving a high-quality recovery rate while playing a strategic role in energy security and domestic production growth,” said Al Jarwan.
Aligning with Egypt’s Energy Goals
This discovery supports the Egyptian Ministry of Petroleum’s plan to increase energy independence by:
- Expanding domestic oil production
- Maximizing the efficiency of mature oil fields
- Ensuring long-term energy security
Conclusion
With significant production potential, the East Crystal well is set to contribute to Egypt’s growing energy sector. Dragon Oil’s commitment to advanced drilling techniques and sustainable exploration ensures long-term oil recovery and strategic energy development in the region.
