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Mature fields have the potential to contribute significantly to future reserves provided that the recovery can be optimized. The main objective of this paper is to discuss the application of some techniques and technologies to optimize the production in Ashrafi Field offshore, Gulf of Suez (GOS), Egypt. Ashrafi Field, located in south-western part of the Gulf of Suez was discovered in 1987 and put in production in 1992 from its Main Area. In 1997, the South-West Area, discovered one year before, started contributing significantly to the overall field production. The field consists of sedimentary reservoir units partially overlying a tilted block of fractured Basement reservoir. The field reached its peak production of 25,800 BOPD in June 2000 from 12 naturally flowing wells and then the production declined drastically. The only artificial lift type that was suitable for the field was the gas lift system and it was implemented starting 2004 in 80% of the wells. The strategy to unlock the unexploited potential in the field was to search for the bypassed oil through cutting edge technologies, using special techniques for stimulation of fracture Basement reservoir, combating scale and paraffin depositions in an efficient and economical manner. The final result for the use of such techniques and technologies was the increase of the oil production to more than 225 % of its levels before the intervention campaign, the increase of the gas production needed for gas lift system feeding and the decrease of the amount of produced water.