New oil field discovered in Egypt

nuevo yacimiento de petróleo

Inspenet, August 27, 2023.

Cheiron, an independent company dedicated to exploration and production, has achieved the discovery of a new oil field in the Geisum and Tawila West concession, located in the Gulf of Suez, in Egypt.

The discovery was made through the GNN-11 exploration well, which was drilled on a fault block to the east of the GNN oil field development area. During drilling, 165 feet of vertical net pay of satisfactory quality was identified in the Nubia Pre-Miocene formation.

The new oil field is the first in the area

This is the first oil discovery in this formation in the GNN area of ​​the concession and it should be noted that the productive reservoir in the main GNN field is located in the Nukhul formation.

The well has been successfully put on production, reaching a flow rate of more than 2,500 barrels of oil per day (bopd). Thanks to this new well and the effective drilling campaign carried out in the field to date, total oil production from the concession has risen to 23,000 bopd, compared to 4,000 bopd prior to the development of the GNN field. Three more wells are expected to be drilled as part of the current phase of the GNN drilling program.

Cheiron, through its subsidiary PICO GOS, owns a 60% interest in the concession, both in operational and ownership aspects, while Kufpec owns the remaining 40%. Field operations are managed by the PetroGulf Misr Joint Operating Company on behalf of EGPC (50%) and partners (50%).

Both Cheiron and Kufpec have plans to drill more exploration wells in the concession area, taking advantage of its exploration potential.


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