Ministry of Petroleum Announces Three New Oil and Gas Discoveries in Western Desert & Gulf of Suez
As part of the Ministry of Petroleum and Mineral Resources' efforts to boost production and encourage operating companies to expand exploration drilling, reflecting the promising potential of Egypt's energy sector, companies Khalda, Petrobel, and GUPCO have made three new oil and gas discoveries in their concession areas in the Western Desert and the Gulf of Suez.
On May 11, Khalda Company successfully made a discovery at South NUT-1 in the Western Desert. Electrical logging confirmed gas indications in the Shifa sandstone layer within the Paleozoic formation, with a net thickness of 253 feet. The expected reserves prior to drilling were estimated at around 12.5 million barrels of oil equivalent (62.7 billion cubic feet of gas and 1.15 million barrels of condensates). Pressure measurements are underway, and the well will soon be tested and evaluated.
Additionally, a development plan is nearing completion, including the construction of a 10-inch, 23-kilometer production pipeline at an investment of approximately USD 10 million. The plan also involves drilling several exploratory wells to boost the company's natural gas output. The well is expected to produce 30 million cubic feet of gas per day.
Petrobel made a new discovery on May 8 by testing and evaluating the appraisal well West Feiran-2 in the Gulf of Suez. Perforating 27 meters in the Asl sandstone resulted in a production rate of 2,660 barrels of oil per day, and the added reserves from the well are currently being assessed.
GUPCO also made a discovery on May 1 through testing and evaluating the exploratory well GS327-A15, perforating 38 feet in the Kareem sandstone, with a production of 720 barrels of oil per day. The added reserves from the well are also under evaluation.
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