UAE Business: Dragon Oil targets output rates of 65,000-70,000 bpd in 2022 – Gulf Digital News

UAE Business: Dragon Oil targets output rates of 65,000-70,000 bpd in 2022 – Gulf Digital News

Dragon Oil, an upstream exploration and production platform fully-owned by Dubai Government, aims to reach production rates of 65,000-70,000 barrels per day (bpd) this year, compared to an average of 60,000 bpd in 2021. 

“Dragon Oil is working to continue its growth and expansion in the Egyptian market in 2022 through intensifying the exploration, development of fields and reparation of wells to increase the production from the oil fields in Gulf of Suez,” said Ali Rashid Al Jarwan, CEO of Dragon Oil, which is participating in the 5th edition of the Egypt Petroleum Show (Egyps-2022).

Dragon Oil, two years ago, completed acquisition of BP’s Gulf of Suez assets, where (Gupco) undertakes exploration and production operations in the area. The company was able to drill new wells in Egypt, showing very positive results, so it seeks to raise the daily production, as its financial solvency allows for further expansion and exploration in several regions.

“Recently, the company was able to carry out AI techniques-based innovative plans in exploration, drilling and production operations in Egypt, to become the first company to apply these technologies,” said Badria Ahmed Khalfan, Chief Human Resources Officer at Dragon Oil. 

Egyps-2022 will held under the