🇪🇬EgyptNorth Africa
North Safa field enters second development phase with $170 million investment
via Egypt Today1 min read
The Gulf of Suez Petroleum Company GUPCO has initiated the second development phase of the North Safa field in the Gulf of Suez. This phase is backed by investments from UAE-based Dragon Oil and the Egyptian General Petroleum Corporation. The field currently produces approximately 15,000 barrels of oil per day from five wells. GUPCO plans to add another well soon, projected to boost production by about 2,500 barrels per day. The total investment for both development phases of the North Safa field is around $170 million, aligning with Egypt's goal to increase domestic crude oil production. This second phase also involved establishing a permanent electricity connection between the field and the Ramadan-6 complex via a 10-kilometer subsea cable, linking the field's facilities to the national power grid. This new connection is expected to reduce operating costs by approximately $3,700 per day and eliminate diesel use, contributing to lower costs, improved environmental performance, and increased returns on petroleum-sector investments.
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