New Oil Field Discovered in the Gulf of Suez
A new oil field has been discovered in the Gulf of Suez, the Egyptian Ministry of Petroleum and Natural Resources said in a statement.
“Cheiron has announced the discovery of a new field in the western Geisum Tahuila concession area in the Gulf of Suez,” the ministry said in a statement.
It is noted that the field is managed by the Egyptian company Petrogulf Misr, a joint venture between Egypt General Petroleum Corporation (EGPC) and Cheiron and Kufpec.
According to the statement, production in the discovered field is 2.5 thousand barrels per day. The ministry stressed that this is the fourth well discovered in the area, with total production now reaching about 23,000 barrels per day.
