Oil & Gas

A Saudi company, Addis Oilfield Services, has made significant strides in boosting oil production in Egypt, a move that aligns with Cairo’s efforts to meet growing energy demand and reduce reliance on imports. The company successfully increased production at the Ras Badran field to 7,500 barrels of oil equivalent per day, a remarkable achievement achieved just three months after beginning operations. The project, which started in August 2024, exceeded initial expectations by surpassing the target of 3,100 barrels per day, marking a significant increase of 3,800 barrels per day.

The success in Ras Badran was driven by a strategic approach that included repairing damaged wells, replacing pumps, and drilling without using a drill to accelerate production. The company also focused on the Metulla Layer Test, where early results from the RB-A3b well indicated a promising output of 1,750 barrels per day. These efforts have significantly increased the field's production capacity, with future plans targeting further exploration and development in the Ras Badran and nearby areas to sustain long-term growth.

Minister of Petroleum and Mineral Resources, Karim Badawi, recently visited the Ras Badran field, witnessing firsthand the company’s efforts. The company’s operational improvements have included the addition of more rigs, including offshore platforms, to maximize production. Further developments in the Metulla and Nubia layers, along with the drilling of new exploratory wells, are expected to push production rates to 10,000 barrels per day, more than three times the initial baseline target.

Addis Oilfield Services’ success in Egypt forms part of a broader investment plan to revitalize aging oil fields in the Gulf of Suez, with up to $66 million set to be invested over the next three years. This includes plans for development in the SUCO and OSOCO fields, which will see $30 million and $36 million invested, respectively. The company’s work in Egypt is also part of a long-term agreement with local partners, aiming to increase production rates across multiple oil fields in the region, thus contributing to Egypt's energy security and economic growth.