The “Belayim offshore 133” well has commenced crude oil production in the Sinai fields at an initial rate of 1,500 barrels per day, the Ministry of Petroleum and Mineral Resources said in a statement on Tuesday. The well was drilled and placed on the production map by Petrobel, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Italy’s Eni. Initial production indicators have shown encouraging results, with promising opportunities to improve performance rates during the coming period, the ministry said. It added that these results reflect the significant potential remaining in the Belayim Marine field. The start of production comes within the framework of the ministry’s efforts to develop crude oil production, reduce the import bill, and meet local requirements.

Source: Daily News Egypt February 24, 2026 17:16 UTC