Dragon Oil announced that it has successfully completed drilling a new oil well in Egypt, confirming a fresh discovery in the country.
The result came through close cooperation with the Egyptian General Petroleum Corporation (EGPC), highlighting Dragon Oil’s ongoing effort to grow its exploration work and strengthen its presence across Egypt.
This latest find builds on the steady progress the company has made since starting its exploration campaign in early 2020, with the series of results expected to support higher production through 2026.
The well was drilled from the Northeast Ramadan offshore platform and reached a depth of 13,425 feet. It encountered the Crystal NER-1X reservoir, and early wireline logs showed clear hydrocarbon signs within a 224-foot column in the Honey Sand formation, confirming the promise of the reservoir.
The discovery forms part of Dragon Oil’s commitment to drill three exploratory wells in the Northeast Ramadan Concession. The first two wells were completed earlier in the year with outcomes exceeding projected targets, and the final well is planned for completion in the first quarter of 2025 using the Crystal NER-1X offshore unit.
CEO Abdulkarim Al Mazmi said the achievement reflects coordinated work across teams in Dubai and Egypt and highlights the strength of the company’s technical partnership with EGPC and GUPCO. He added that the early results point to strong hydrocarbon indicators that align with Dragon Oil’s aim to raise production and develop new opportunities in Egypt. Initial projections suggest the well could produce around 3,000 barrels per day once tied into the existing system.
The company said the discovery further builds its cooperation with the Gulf of Suez Petroleum Company (GUPCO), supported by the Ministry of Petroleum and Mineral Resources and EGPC. Dragon Oil’s leadership also thanked the Chairman and Board of Directors for their continued support of technical and operational teams in Dubai and Cairo.
Dragon Oil is completing final wireline logging, core work, and reservoir evaluation. After confirming commercial viability, the well will be linked to the production grid through the Northeast Ramadan platform in July, once the technical review is finished.
The well was drilled based on findings from the high-resolution OBN 3D seismic survey carried out in the Gulf of Suez in 2020, which improved prediction accuracy and helped point to new development prospects under the current commitment agreement.
source: www.zawya.com
African Energy Council