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New Oil Discovery in Abu Rudeis Area in South Sinai

Source: www.gulfoilandgas.com 7/4/2019, Location: Africa

The Petroleum Ministry announced that Belayim Petroleum Company (PETROBEL) made a new oil discovery in Abu Rudeis-Sidri area in South Sinai.

In a statement, the ministry said Petroleum Minister Tareq el Mulla received a report from PETROBEL Chairman Atef Hassan that his company discovered a layer of crude oil, with vertical thickness of 35 meters of sedimentary rocks and 65 meters of limestone rocks.

According to the report, the new oil discovery constitutes a new challenge to the company.

The company plans to draw up an expanded development plan for the area, including the drilling of 10 wells, at a production rate of nearly 3,000 barrels per day, the report added.

The company is currently studying means maximizing production through the application of hydraulic fracturing technology, it said.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

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