The “Belayim offshore 133” well has commenced crude oil production in the Sinai fields at an initial rate of 1,500 barrels per day, the Ministry of Petroleum and Mineral Resources said in a statement on Tuesday.
The well was drilled and placed on the production map by Petrobel, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Italy’s Eni. It represents the first results of the Italian company’s new investment work programme in the Gulf of Suez, Sinai, and Delta regions, following an agreement signed with EGPC to inject new investments into these areas.
Initial production indicators have shown encouraging results, with promising opportunities to improve performance rates during the coming period, the ministry said. It added that these results reflect the significant potential remaining in the Belayim Marine field.
As part of the operational plan, the “Trident 16” drilling rig currently stationed in the area is moving to drill a new well, “Belayim offshore 131.”
Minister of Petroleum and Mineral Resources Karim Badawi had monitored the launch of drilling operations for the “Belayim offshore 133” well a few days before the end of last year from on board the rig responsible for the drilling work.
The start of production comes within the framework of the ministry’s efforts to develop crude oil production, reduce the import bill, and meet local requirements.
