A preliminary probe found that a drone caused the fire involving two vessels at Damietta Port.
Karim Badawi, Minister of Petroleum and Mineral Resources, said in a statement on Saturday that the decline comes as part of preparations to fully settle outstanding dues and reach zero arrears by the end of next month.
In a statement released on Saturday, the ministry said that Karim Badawi, Minister of Petroleum and Mineral Resources, inspected the EDC-56 drilling rig, which carried out drilling operations in the West Abu Madi area of Kafr El-Sheikh Governorate, approximately 3 kilometers offshore in shallow waters at a depth of about 10 meters.
In a statement, the ministry said that production tests conducted by the Gulf of Suez Petroleum Company (GUPCO) showed output levels of approximately 2,500 barrels of oil per day and 3 million cubic feet of natural gas, with the well immediately connected to existing production facilities.
The operation resulted in a daily production rate of approximately 4,100 barrels of oil equivalent, reinforcing the company’s plans to boost output and further develop its concession areas.
