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Alpha Dhabi H1 profit $1.79bn

Adjusted EBITDA rises to $2.36bn.

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

Gupco begins pumping oil in Egypt

The company plans to increase to 12,000 barrels per day through drilling seven new wells. (AFP)
By TRENDS Desk
January 2, 2024 9:53 am
  • Egypt's petroleum minister said the project first phase aims to reach 6,000 barrels per day by mid-January
  • The completion of the second well is expected by mid-January to raise production to targeted levels

Cairo, Egypt–The Gulf of Suez Petroleum Company (Gupco) has successfully started production at the first well of the Safa North Petroleum Field in the northeastern Ramadan area in the Gulf of Suez, the Egyptian Ministry of Petroleum and Mineral Resources announced.

The Minister of Petroleum and Mineral Resources, Tarek El Molla, said the project’s first phase aims to reach 6,000 barrels per day by mid-January, with the first well already producing at a rate of 2,500 barrels per day.

The completion of the second well is expected by mid-January to raise production to targeted levels, with plans to increase to 12,000 barrels per day through drilling seven new wells.

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