PHOTO
Arab Finance: The Belayim offshore 133 well has begun crude oil production in Egypt’s Sinai fields, the Ministry of Petroleum and Mineral Resources said in a statement.
This marks the first output from Italian energy major Eni’s new investment program in the Gulf of Suez, Sinai, and the Nile Delta.
The well was drilled and commissioned by Petrobel, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Eni, as part of the ministry’s efforts to boost domestic crude oil production, curb imports, and meet local demand.
Initial production indicators are promising, as they showed output of around 1,500 barrels of crude oil per day, with potential to improve production rates in the coming period.
The start-up of Belayim Offshore 133 reflects the remaining production potential of the Belayim offshore field.
Preparations are underway to drill another well, Belayim Offshore 131, using the Trident 16 drilling rig.
