Dragon Oil Company, which is fully funded by the Dubai Government, and in cooperation with the Egyptian General Petroleum Corporation, hosted a workshop in the Arab Republic of Egypt on January 23-24, titled “Improving Production and Rediscovering the Gulf of Suez Fields.”

More than 20 companies operating in the Egyptian oil sector attended the workshop which reviewed the latest technologies based on artificial intelligence to increase production and enhance performance in the Gulf of Suez region, as it is the backbone of the oil industry.

Mr. Fareed AlHashmi, Chief Operations Officer for Egypt and Iraq, representing Dragon Oil, and Mr. Sherif Hasballah, Under Secretary for the Production Sector, on behalf of Eng. Mr. Tarek El-Molla, the Minister of Petroleum and Mineral Resources of Egypt, opened the workshop with welcoming speeches.

The two parties stressed the importance of the workshop in enhancing communication between oil companies operating in the Gulf of Suez region, for the benefit of everyone, through exchanging research and studies and harnessing modern technology to enhance production and exploration.

The speakers expressed their thanks for the generous sponsorship of the Dubai government for such initiatives aimed at deepening cooperation between partners, which contributes to business growth and increases opportunities for cooperation and sustainability.

This workshop shows Dragon Oil’s commitment, in cooperation with the Egyptian General Petroleum Corporation, to promote digital transformation and sustainability in the petroleum industry and represents a valuable opportunity to interact and learn from diverse experiences, which enhances continued progress in this strategic sector.

The workshop aims to exchange experiences between Egyptian petroleum sector companies and the participation of petroleum services companies to find innovative and unconventional solutions that contribute to increasing crude oil production from the Gulf of Suez fields. The workshop included discussion of more than 20 research papers from various sector companies regarding the latest successes in the petroleum sector of Egypt.

The research presented touched on ways to improve the performance of artificial lifting methods and innovative ways to reduce the amounts of water associated with production. It also touched on ways to increase production and lessons learned from the latest petroleum discoveries in the region. The workshop touched on the topics of using large databases and artificial intelligence technology to improve the efficiency of oil field management and production and create new opportunities to increase production.

The sessions featured in-depth discussions on the challenges facing the petroleum industry in the Gulf of Suez region, with a focus on ways to improve the performance of production operations and how to make the most of available resources. At the same time, the workshop was an opportunity to enhance communication and exchange ideas between companies, which contributed to expanding the horizons of cooperation in this vital sector.

This initiative by Dragon Oil Company is an affirmation of the constructive partnership in the sector and its keenness to cooperate with the companies and cadres of the Egyptian petroleum sector to serve and promote the common interests of all partners.

It is worth noting that, at the beginning of this year, Dragon Oil Company began producing crude oil from the Al Wasl field (north of Safa), which is the company’s first oil discovery in the Arab Republic of Egypt.