The Ministry of Petroleum has announced the drilling of a new exploratory well, South Wasl BB, in the South Wasl area of the Gulf of Suez.

In a statement, the ministry said that production tests conducted by the Gulf of Suez Petroleum Company (GUPCO) showed output levels of approximately 2,500 barrels of oil per day and 3 million cubic feet of natural gas, with the well immediately connected to existing production facilities.

GUPCO noted that the new well has increased the company’s total production to around 67,000 barrels of oil per day, marking the highest output level recorded in a long period.

Recently, Eni has announced a significant new gas and condensate discovery in Egypt following the successful drilling of the Denise W-1 exploration well in the Temsah Concession, located in the Eastern Mediterranean offshore region.

 Preliminary estimates suggest the discovery holds approximately 2 trillion cubic feet (Tcf) of gas initially in place (GIIP), along with around 130 million barrels of associated condensates. The Denise W discovery is situated about 70 kilometers offshore in water depths of 95 meters and lies less than 10 kilometers from existing infrastructure, a factor expected to enable rapid and cost-efficient development.