Direct: The Dragon Oil Company, wholly owned by the government of Dubai, has 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 in that country.
The operation of the Al Wasl offshore platform followed the success of the first early production phase of the North Al Safa field, following the completion of appraisal operations of the well south of Belayim, which was brought into production at an initial rate of 3,000 barrels of crude oil per day.
The “North Safa” field, discovered in 2021 by “Dragon Oil”, is the largest oil discovery in the Gulf of Suez region in the last twenty years, with an oil reserve that has exceeded at least 95 million barrels, which pushed “Dragon Oil” to adopt an ambitious project, foreseeing early production with a total investment of 200 million dollars.
The company said in a statement today, Tuesday, that the Al Wasl field involves the creation of a new offshore production platform and the execution of procedures such as the extension of a production line and a power line to drive pumps of oil production in addition to water injection, in order to maintain high production rates and achieve the highest development rates of existing reserves.
The statement adds that the company intends to complete field development work as soon as possible, connecting the second well south of Belayim 293-6 to the production line during mid-January, to increase production capacity to 3,000 barrels of crude oil. oil per day, bringing the offshore platform’s production to 6,000, one barrel of crude oil per day.
According to the plan agreed with the Egyptian authorities, Dragon Oil will drill 7 new wells over the next two years, with the aim of reaching 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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