Cheiron unveils new oil discovery in Egypt's Geisum, Tawila West Concession
Updated 8/22/2023 9:51:00 AM
Arab Finance: Cheiron Energy has announced a new oil discovery in the Geisum and Tawila West concession in the Gulf of Suez, as per a press release.
The discovery was achieved through the GNN-11 oil exploration well, which was drilled via the Early Production Facility (EPF) at the GNN oil field.
The well is set to successfully produce over 2,500 barrels of oil per day, bringing the total production of oil in the concession to around 23,000 barrels a day, compared to nearly 4,000 barrels per day before the development of North Geisum field.
The operations at the field are carried out by Petro Gulf Misr, on behalf of the Egyptian General Petroleum Corporation (EGPC) by 50% and an alliance of Cheiron and Kuwait Foreign Petroleum Exploration Company (KUFPEC) by 50%.
Cheiron and KUFPEC are planning to drill an additional number of wells at the concession as well as further develop the North Geissum.
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