Egypt’s Ministry of Petroleum and Mineral Resources announced a significant oil discovery in the concession area of Geisum and Tawila West, located in the Gulf of Suez.
The statement released on Tuesday highlighted that the operations in the field are managed by the joint company Petrogulf Egypt.
Petrogulf Egypt is a joint venture owned 50% by the Egyptian General Petroleum Corporation and 50% by partners Cairon-Pico and Kufpec.
The discovery was made through the exploratory well GNN-11 in North Geisum. This well encountered 165 feet of net high-quality vertical layers in the Nubia formation, which dates back to the pre-Miocene era.
Remarkably, this is the first time that the oil-bearing Nubia formation has been found in the concession area. The primary producing reservoir in the field is located in the Nukhul Formation.
The well was drilled using the early production facilities recently installed in the North Geisum field. It was successfully brought into production, yielding over 2,500 barrels per day.
Owing to the new well and the drilling program executed in the field to date, the total crude oil production has surged to approximately 23,000 barrels daily, a significant jump from about 4,000 barrels daily before the development of the North Geisum field.
This well is the fourth to be completed using the early production facilities. Another three wells can be drilled through these facilities and will be utilized to complete the current phase of the exploratory drilling program and develop the concession area.
