Wedoany.com Report-Nov. 24, Egypt’s Ministry of Petroleum and Mineral Resources has announced a new crude oil discovery in the Gulf of Suez.

The Gulf of Suez oil discovery is set to be included in Egypt’s production figures in the coming days, with an estimated initial output of 3,000bbl/d of crude oil.

The find was achieved by the Gulf of Suez Petroleum Company (GUPCO), a joint venture between the Egyptian General Petroleum Corporation (EGPC) and UAE-based Dragon Oil. The new well, Crystal Northeast Ramadan, will soon contribute to national production with an initial flow rate of approximately 3,000 barrels per day.

Advanced ocean-bottom seismic technology was used to identify previously undetected geological structures beneath the seabed. Drilling and early production are being conducted from the existing Al-Fanar platform owned by EGPC, optimising current infrastructure and reducing development costs.

The ministry described the discovery as part of a series of recent exploration successes that support efforts to maintain and grow domestic oil output.

Among other achievements, Khalda Petroleum Company recently announced the Gomana-1 natural gas discovery in the Western Desert, with expected production of around 36 million cubic feet per day.

Minister of Petroleum and Mineral Resources Karim Badawi stated that the sector has recorded 75 oil and gas discoveries in recent periods and placed 383 new wells into production.

During the ministry’s PetroCast podcast, Minister Badawi confirmed that current natural gas production stands at approximately 4.2 billion cubic feet per day, with further increases planned.

In September, the Egyptian General Petroleum Corporation signed three new exploration and production agreements with international companies covering blocks in the Western Desert, Gulf of Suez, and North Sinai areas.

These ongoing activities reflect continued investment in Egypt’s hydrocarbon resources across multiple regions, utilising both existing facilities and advanced exploration techniques to enhance energy supply.