Dragon Oil, an upstream exploration and production platform fully owned by the Government of Dubai, has unveiled its first oil discovery in the Gulf of Suez, Egypt.
The field could contain around 100 million barrels in reserves, representing one of the largest discoveries in the Gulf of Suez in the past 20 years, the company said.
The announcement was made on the sidelines of the 5th edition of the Egypt Petroleum Show (Egyps 2022) held under the patronage of Egyptian President Abdel Fattah El Sisi from February 14-16 at the Egypt International Exhibition Center with the support of the Ministry of Petroleum and Mineral Resources-Egypt.
The new petroleum field is the first discovery by Dragon Oil in Egypt, where it has become a key player in the sector, following its full acquisition of BP’s Gulf of Suez assets.
