Dubai-based Dragon Oil is planning to increase its oil production in Egypt by about 27% to reach 70,000 barrels per day in October, a government official told Asharq Business.
Dragon Oil will start production within two months from the North Safa field in the Gulf of Suez, with a capacity of 15,000 barrels of oil per day.
Dragon Oil is owned by Emirates National Oil Company Group (ENOC).
Over the past decade, Dragon Oil has evolved from a single-origin oil and gas company operating in Turkmenistan only, to a global operator and an international exploration and production platform, with assets in Egypt, Iraq, Algeria, and Afghanistan.
Dragon Oil’s long-term strategy is to boost production to 300,000 boepd by 2026 through organic and inorganic growth.”
