Dragon Oil, owned by Dubai state firm Enoc, kept its Egypt output steady at 57,000 b/d for the 2024-25 financial year. This will have been disappointing, with the firm having hoped that output from the North Safa field, which began producing at the start of last year, would provide a significant boost.
Dragon entered Egypt in 2019, taking over UK major BP’s Gulf of Suez Petroleum Company (Gupco) but despite pledging investment and increased output it has been unable to move the needle. (CONTINUED - 261 WORDS)