ESA & PSA
GPC has been playing a pioneering role in cooperation with foreign companies in the field of Exploration & Production Service agreements (ESA & PSA) in some of the company fields. The aim of such agreements was to transfer modern technology in the spheres of petroleum industry and provide investments for the operations of prospecting, exploration and development of different fields. These agreements are as follows
GPC contracted with Scimitar as a heavy oil development contractor in Issaran Field on November 4, 1998, with the objective of applying the Enhanced Oil Recovery (EOR) and maximizing the reserves that could be developed. Applicable development axes were used according to modern technology in the production of high Viscosity
heavy oil and enhancement of field reservoir production. Steam injection experiments were made with positive results on 30/7/2001. The commercial development announcement of the project was declared on 18/10/2001. The original reserves of Issaran Field reached 516 million barrels.
Production and Exploration Service Agreement in Area A in the Eastern Desert Fields including the Fields of Kareem, Ayun, Um El-Yusr , Shukeir and Wadi Dara (Relinquished later) was signed with the following companies: The French GeoPetrol on 6/8/2002 ,The Australian Oil Search on 5/12/2005 , Kuwait Energy on 20/8/2008 up to date , North West Shukeir Field was discovered in February, 2009 and put on the production map. The original reserves of Area A Fields reached 340 million barrels.
Undoubtedly, the successful joint cooperation system has greatly contributed to the achievement of many oil discoveries. This, in turn, has resulted in the increase of production and reserve rates through the application of modern techniques and developed geological theories.
Exploration Service Agreement for West Gharib Exploration Area - Block G & H with Dublin Petroleum Limited. was signed on 8/6/2009 till the present time, including the Fields of MESEDA &SOUTH H (RABUL) in H Block , Dublin Petroleum Limited.Relinquished Block G in 2015. MESEDA Field was discovered in 2011 and put on the production map. RABUL Field was discovered in 2013 and put on the production map .The original reserves of H Block Fields reached 99 million barrels.
GPC contracted with Sudr-petco (Mediterra) as oil development contractor in Sinai Area Fields (Sudr-Asl -Matarma) , contractor receive the area on June, 2016 and signed on feb-2017 (operation starting date) the increasing of the drilling and workover activities lead to increase the oil production from 1250 BOPD up to 22,000 BOPD@ 2023 as a peak of production , with the natural depletion and WC increasing the current production rates stable on 17000 BOPD at the present time, The original reserves of Sinai Area Fields reached 535 million barrels.