Egypt announces a new oil discovery in the Gulf of Suez

Egypt declares a brand new oil discovery within the Gulf of Suez

World By Aug 22, 2023 No Comments

The Egyptian Ministry of Petroleum and Mineral Sources introduced as we speak, Tuesday, a brand new oil discovery within the Geisum offshore concession space within the Gulf of Suez.

Cheiron stated that the brand new discovery is positioned within the Jessum-Tawila West concession space within the Gulf of Suez, the place operations within the discipline are managed by the three way partnership firm PetroGulf Egypt, on behalf of the Egyptian Common Petroleum Company with a 50% stake, and the companions “Kieron-Pico and KUFPEC”. 50%.

The invention was made by the GNN-11 North Geisum North exploration effectively. The effectively encountered 165 ft of web high-quality vertical strata within the pre-Miocene Nubian Formation, and that is the primary time that the Nubian Crude Oil-bearing Formation has been discovered within the area. The concession, and the primary reservoir produced within the discipline is positioned within the Nukhal Formation.

The effectively was drilled by means of the lately put in early manufacturing facility within the North Jessom North discipline and the effectively was efficiently placed on manufacturing at a charge of over 2,500 barrels per day.

And a press release, which Al Arabiya.web acquired a duplicate of, said that, on account of the brand new effectively and the profitable drilling program that has been carried out to date within the discipline, the full crude oil manufacturing has reached about 23,000 barrels per day, in comparison with about 4,000 barrels per day earlier than the event of the North Jessum discipline.

The effectively is the fourth to be accomplished by means of the early manufacturing facility.

It’s talked about that 3 extra wells could be drilled by means of the early manufacturing services, and they are going to be used to finish the present section of the exploration drilling program and the event of the concession space.

Kyron and KUFPEC additionally plan to drill a further variety of exploratory wells within the concession space and develop the North Jessum North Discipline (GNN) growth exercise.

And the Egyptian Ministry of Petroleum introduced in June 2020 that an oil discovery had been made alongside the aforementioned space south of the Gulf of Suez within the shallow waters of the Crimson Sea, with an preliminary manufacturing charge of two,000 barrels per day of crude oil.

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