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    Food safety report on Amman meeting

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    CoS Asker attends 2nd Field Army training activity

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    Sisi directs gov’t to finalise implementation of port, railway, road developing projects by 2025

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    Minister: Cost of upgrading transport sector to reach EGP 2tr by 2024

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    Ma’eit says successful Sukuk reflect confidence of capital market in Egyptian economy

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    Russia’s Medvedev says British training troops in Ukraine could be legitimate targets

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    Apple tells US court Google is best in search

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    Meta unveils AI assistant, Facebook-streaming glasses

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      Ma’eit says successful Sukuk reflect confidence of capital market in Egyptian economy

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      Cabinet hands Sisi 2 books summarizing development process over 9 years

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      Economic reforms drove economic growth and cut unemployment, inflation rates: Finance min.

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        3 tombs at Valley of Kings re-opened to visitors – Official

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        Aphrodite temple, Abusir treasures added to discovery list

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        Food safety report on Amman meeting

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        CoS Asker attends 2nd Field Army training activity

        Sisi directs gov’t to finalise implementation of port, railway, road developing projects by 2025

        Sisi directs gov’t to finalise implementation of port, railway, road developing projects by 2025

        Minister: Cost of upgrading transport sector to reach EGP 2tr by 2024

        Minister: Cost of upgrading transport sector to reach EGP 2tr by 2024

        Ma’eit says successful Sukuk reflect confidence of capital market in Egyptian economy

        Ma’eit says successful Sukuk reflect confidence of capital market in Egyptian economy

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        New York flooded as city’s infrastructure struggles to cope with changing climate

        New York flooded as city’s infrastructure struggles to cope with changing climate

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        Russia’s Medvedev says British training troops in Ukraine could be legitimate targets

        Tens of thousands demand climate action in Swiss capital

        Tens of thousands demand climate action in Swiss capital

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        Arab electricity ministers meet in Cairo

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        Egypt condemns terrorist attack in Turkey

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        Meta technology chief defends tech titan’s AI strategy

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        The world of high technology in nuclear industry

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        Microsoft to offer OpenAI’s Dall-E 3 in Bing

        Apple tells US court Google is best in search

        Apple tells US court Google is best in search

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        Meta unveils AI assistant, Facebook-streaming glasses

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        ‘ChatGPT users can now browse internet’

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          Minister: Cost of upgrading transport sector to reach EGP 2tr by 2024

          Minister: Cost of upgrading transport sector to reach EGP 2tr by 2024

          Ma’eit says successful Sukuk reflect confidence of capital market in Egyptian economy

          Ma’eit says successful Sukuk reflect confidence of capital market in Egyptian economy

          On the way to a circular economy

          On the way to a circular economy

          Cabinet hands Sisi 2 books summarizing development process over 9 years

          Cabinet hands Sisi 2 books summarizing development process over 9 years

          Economic reforms drove economic growth and cut unemployment, inflation rates: Finance min.

          Economic reforms drove economic growth and cut unemployment, inflation rates: Finance min.

          Egypt’s parl’t speaker meets speakers of houses of parl’t of South Africa

          Egypt’s parl’t speaker meets speakers of houses of parl’t of South Africa

          Trending Tags

            • Real State
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            Jabeur grabs 5th WTA title

            Jabeur grabs 5th WTA title

            Martin claims Japan MotoGP

            Martin claims Japan MotoGP

            Chiba inspires Japan at gymnastics worlds

            Chiba inspires Japan at gymnastics worlds

            CAF Confed Cup:  Zamalek seals group stage place

            CAF Confed Cup: Zamalek seals group stage place

            Egyptian Premier League: Masry, Ismaili claim wins, Smouha held

            Egyptian Premier League: Masry, Ismaili claim wins, Smouha held

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            Wine jars discovered at Abydos

            Wine jars discovered at Abydos

            3 tombs at Valley of Kings re-opened to visitors – Official

            3 tombs at Valley of Kings re-opened to visitors – Official

            Science says our love for chocolate is healthy for us

            Science says our love for chocolate is healthy for us

            Aphrodite temple, Abusir treasures added to discovery list

            Aphrodite temple, Abusir treasures added to discovery list

            100 Healthy Days initiative provides 35.581 million medical services in 96 days

            100 Healthy Days initiative provides 35.581 million medical services in 96 days

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          Home Business

          Egypt announces new oil discovery in Gulf of Suez

          by Gazette Staff
          August 22, 2023
          in Business, Egypt
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          Egypt announces new oil discovery in Gulf of Suez
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          The Petroleum Ministry announced on Tuesday a new oil discovery in the Geisum and Tawila West Concession in the Gulf of Suez.

          In a statement, the ministry said that the new discovery was made by Egypt’s Cheiron Petroleum Corporation through exploration well GNN-11, currently producing more than 2,500 barrels of oil per day (bopd).

          The well is the fourth to be completed and another three wells could be drilled as part of the current phase of exploration, the ministry added.

          In June, Cheiron announced that the GNN-4 well, which was drilled to appraise the recent GNN oil discovery, has been completed and successfully tested at initial rates of over 2,000 bopd.

          The well was drilled as a high angle wellbore from the existing Geisum D platform and has been placed on long term production using the existing field infrastructure.

          The discovery, which contains an estimated 260 MMbbls of oil in place, is located on the Geisum and Tawila West Concession, in which Cheiron (through its PICO GoS affiliate) holds a 60 per cent participating interest and operatorship and Kufpec a 40 per cent participating interest.

          The Concession is managed by a Joint Operating Company owned by the Egyptian General Petroleum Company, Cheiron and Kufpec and called PetroGulf Misr (“PGM”) which is technically supervised by South Valley Egyptian Petroleum Holding Company.

          The Concession contains the mature Geisum oil field (with 32 active wells, extensive offshore infrastructure and onshore plant at Zeit Bay) which has been on production since the 1980s.

          GNN was discovered in July 2019 by the GNN-3 exploration well which was drilled in a separate fault block located to the north east of the main Geisum field.

          The discovery well encountered almost 500 feet of good quality net oil pay in the Nukhul formation and, given the very encouraging well results, a three well early production and reservoir appraisal drilling program is underway.

          The GNN-4 well will be followed by two further wells to be drilled from the D platform in the southern area of the discovery.

          Subsequently, the development focus will shift to the northern area of the discovery where additional drilling is planned, along with the tie-back of the GNN-3 well for early production.

          The full field development will leverage the existing Geisum facilities to accelerate production and minimize costs and will also involve the installation of new platform and pipeline infrastructure.

          The discovery is the first to be made in the Nukhul formation in the Geisum area and will open up further exploration potential, both within the Concession and in the neighbouring acreage.

          It comes after the implementation of an extensive, multi-year exploration and development campaign by PICO GoS and its Partners, designed to maximise the economic reserves recovery from the Concession.

          Tags: DiscoveryEgyptGulf of SuezOilTop_News
          Gazette Staff

          Gazette Staff

          We The Staff of The Egyptian Gazette are working throughout the day to cover the most important news in all fields for you.

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