Dragon Oil upstream exploration and production platform, has begun producing crude oil in Egypt and plans to drill seven additional wells by 2026, local media quoted a company statement released.
It said that the Al Wasl field (North Safa), its first oil discovery in Egypt, was put into production at an initial rate of 3,000 barrels of crude oil per day.
The field, discovered in 2021, has an oil reserves of more than 95 million barrels, making it one of the largest discoveries in the Gulf of Suez over the past 20 years.
“Dragon Oil seeks to permanently expand the scope of petroleum discoveries in Egypt over long-term periods, especially since the Egyptian market is currently considered one of the most economically promising markets in the Middle East,” the company’s statement reads, according to media reports.
