🇪🇬EgyptNorth Africa
PetroGulf achieves record oil production in Gulf of Suez, reaching 26.6K barrels per day
via Egypt Today19 hours ago2 min read
PetroGulf, a subsidiary of the South Valley Egyptian Petroleum Holding Company, has significantly increased its oil production from operations in the Gulf of Suez. Daily output has risen to approximately 26.6 thousand barrels, up from about 17 thousand barrels per day earlier in the fiscal year 2025/2026. This marks the highest production level for the company since its establishment in 1982. The increase was driven by an intensive development plan over five months, which included drilling the new North Geysum North-16 production well, contributing about 4 thousand barrels per day. Additionally, an extensive maintenance and well-servicing program across the company’s Gulf of Suez assets added approximately 6,750 barrels per day to production capacity. This work utilized two drilling rigs, demonstrating enhanced operational efficiency and faster execution of field development plans. PetroGulf represents a successful investment collaboration involving the Egyptian General Petroleum Corporation, the South Valley Egyptian Petroleum Holding Company, Pico, and KUFPEC, aimed at strengthening and expanding crude oil production in Egypt.
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Original source
This summary was AI-generated from a story originally published by Egypt Today.
