Egypt Announces New Oil Output from Gulf of Suez Field

Egypt: Egypt's Ministry of Petroleum and Mineral Resources announced the start of production from a new development well at the North Safa field in the Gulf of Suez, operated by Gulf of Suez Petroleum Company (GUPCO). According to Emirates News Agency, the ministry stated that the Al-Wasl-4 well has begun producing around 2,250 barrels of crude oil per day and approximately 1.3 million cubic feet of gas per day, raising the company's total output to about 65,000 barrels of crude oil daily. The ministry noted that Al-Wasl-4 forms part of the company's 2026 development plan. The North Safa field, one of the most significant discoveries in the Gulf of Suez, entered production in 2024 and is undergoing further development, including the installation of an offshore production platform and the implementation of a water-injection programme across three wells to boost output and prepare for the second phase of field development.