Emirati oil company Dragon Oil has announced that it has achieved a significant achievement in its exploration drilling operations and has successfully completed the initial drilling of the "East Crystal" well in the Gulf of Suez, in collaboration with GUPCO.
According to
Amac News: Based on the company’s announcement, initial tests have shown a production capacity of more than 2,000 barrels per day (bpd), which shows promising potential for increasing production in the area.
Currently, further evaluations are underway using advanced technologies to increase production capacity, with the goal of reaching more than 5,000 bpd.
The discovery is in line with the Egyptian Ministry of Oil's strategy to increase domestic production and maximize resource utilization. Initial estimates indicate that the well has potential reserves of 8 million barrels.
Ali Rashid Al Jarwan, CEO of Dragon Oil, said that these results demonstrate the effectiveness of modern exploration techniques in reviving mature fields, helping to ensure sustainable production and maximizing the use of existing oil reserves. He also added that these discoveries reinforce Dragon Oil's commitment to ensuring long-term production sustainability, in line with the contract period, while focusing on achieving high-quality recovery rates.
QR code