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The Gulf of Suez Petroleum Company (GUPCO) has started oil production from the first well at Safa North Petroleum Field in the Suez Gulf, Egyptian Ministry of Petroleum said on Monday.
Tarek El Molla, the Egyptian Minister of Petroleum, made the announcement that the early production project’s first phase seeks to reach 6,000 barrels per day by mid-January.
He also said that the first well has already produced with a rate of 2,500 barrels per day.
The second well is expected to be completed by mid-January to help increase the production to targeted levels.
The minister also said that there are plans to increase production to 12,000 barrels per day by drilling seven new wells.
