Direct: Dragon Oil Company, wholly owned by the Dubai government, announced the start of crude oil production from the Al Wasl field north of Safa in Egypt, which is the company’s first oil discovery there.
The operation of the Al Wasl offshore platform came after the successful implementation of the first phase of early production of the North Safa field, after the completion of the evaluation operations of the well south of Belayim, which was put on production at an initial rate of 3,000 barrels of crude oil per day.
The “North Safa” field, which was discovered in 2021 by “Dragon Oil”, is the largest oil discovery in the Gulf of Suez region during the last twenty years, with an oil reserve that exceeded 95 million barrels at the very least, which prompted “Dragon Oil” to adopt an ambitious project. For early production with a total investment of $200 million.
The company said in a statement today, Tuesday, that the Al Wasl field includes establishing a new offshore production platform and carrying out procedures such as extending a production line and an electricity line to operate oil production pumps in addition to water injection, in order to maintain high production rates and achieve the highest development rates for existing reserves.
The statement added that the company intends to complete the field development work as soon as possible, by connecting the second well south of Belayim 293-6 to the production line during the middle of this January, to raise the production capacity to 3,000 barrels of crude oil per day, bringing the offshore platform’s production to 6,000. A barrel of crude oil per day.
According to the plan agreed upon with the Egyptian authorities, Dragon Oil will drill 7 new wells during the next two years, aiming to reach 15,000 barrels per day of crude oil for the Al Wasl field.
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2024-01-02 15:18:57
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