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Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

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The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

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Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

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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