Petrobel, the joint venture between Eni and the Egyptian General Petroleum Corporation (EGPC), has commenced production from the Belayim Offshore 133 well in the Gulf of Suez at an initial rate of 1,500 barrels of crude oil per day (bbl/d), with further potential to optimise output in the near term, Egypt’s Ministry of Petroleum and Mineral Resources announced.
The Belayim Offshore 133 Well marks the first drilling activity under Eni’s new investment programme in the Gulf of Suez, Sinai and Nile Delta regions — pursuant to an agreement signed with EGPC in mid-November to inject fresh capital and accelerate production rates across its concession areas. Eni has committed to investing $8 billion over the next five years to develop existing fields and expand exploration, underscoring a long-standing partnership with Egypt dating back to the company’s operation of the Belayim oil field since 1954.
The Trident 16 rig, which completed the Belayim Offshore 133 drilling operations beginning in December, has now been repositioned to drill the next well, Belayim Offshore 131, as part of the continued programme. The ministry said the project supports Egypt’s ongoing strategy to expand domestic oil production, reduce reliance on imports and meet growing local demand.
Source: egyptoil-gas.com; en.amwalalghad.com