Egypt announces 3 new oil and gas discoveries to enhance national production.
The Egyptian Ministry of Petroleum and Mineral Resources has revealed 3 new discoveries of oil and natural gas in concession areas belonging to "Khalda," "Petrobel," and "Gabco" companies in the Western Desert and the Gulf of Suez, as part of the state's efforts to develop its hydrocarbon resources and increase production.
In an official statement, the ministry announced that Khalda Petroleum Company succeeded in discovering a new field in the southern Western Desert, where geological recordings showed gas indications with a net thickness of 253 feet in the "Shafa" sand layer. The estimated reserves for this field are about 12.5 million barrels of oil equivalent, including 62.7 billion cubic feet of natural gas and 1.15 million barrels of condensates.
The company plans to implement a plan to connect the well to production by extending a 23-kilometer pipeline with investments approaching $10 million, with expectations to reach a daily production of 30 million cubic feet of gas.
As for the Gulf of Suez, Petrobel company announced a new discovery in the "Gharb Faran-2" well, which was recorded on May 8th, with a production rate of 2660 barrels of oil per day, and the evaluation of the extractable reserve volume is currently underway.
Similarly, Gabco company recorded a new discovery in the "GS327-A15" well, after testing the Kareem sand layer at a depth of 38 feet, with a daily production rate reaching 720 barrels of oil.
The Ministry of Petroleum confirms that these discoveries are part of the state's strategy to enhance oil and gas production by developing current fields and opening new exploration prospects, supporting energy security and the national economy.
