Cheiron unveils new oil discovery in Egypt’s Gulf of Suez

Egypt’s largest independent E&P company Cherion has unvalied a new petroleum detection in the Geisum and Tawila West Concession in the Gulf of Suez, according to Ministry of Petroleum and Mineral Resources statement on Tuesday.

The Ministry clarified the operations of the new discovery are managed by the joint company PetroGulf Egypt, on behalf of the Egyptian General Petroleum Cooperation (EGPC) at 60 percent with Kufpec holding the remaining 40 percent interest.

The discovery was made through the GNN-11 exploration well, currently producing more than 2,500 barrels a day which was drilled into a fault block to the east of the GNN oil field development, Cheiron mentioned in its statement.