Dragon Oil, a wholly-owned subsidiary of Emirates National Oil Company (ENOC), has successfully located a new oil reservoir. Working in close collaboration with the Gulf of Suez Petroleum Company (GUPCO) and the Egyptian General Petroleum Corporation (EGPC), the company drilled the South El Wasl B.B2 exploration well in the Gulf of Suez. This joint initiative aims to expand exploration activities and increase overall production across the region.
Key Discovery Metrics
Wireline logging data confirmed the presence of a robust oil-bearing reservoir. The successful drilling operation yielded several promising initial results:
- Formation Location: The oil sits within the Lower Rudeis formation.
- Estimated Reserves: The discovery adds approximately 8 million barrels of original oil in place (STOOIP) to current estimates.
- Production Rates: Initial testing indicates an output exceeding 2,000 barrels of oil per day.
Advanced Technology at Work
The exploration team achieved this milestone by relying on advanced geophysical studies rather than traditional methods. They utilized three-dimensional seismic acquisition powered by Ocean Bottom Node (OBN) technology. These tools allowed the partners to accurately map the area, identify new structural traps, and pinpoint high-potential exploration targets.
Strengthening Regional Partnerships
This discovery highlights the strong operational relationship between Dragon Oil, GUPCO, and EGPC. The successful well directly supports their shared strategy to maximize output from the Gulf of Suez fields. Moving forward, the partnership will continue to focus on expanding production capabilities and achieving long-term hydrocarbon development objectives.