Egypt Announces New Oil Discovery in Gulf of Suez

The discovery was made by Cheiron, Egypt's leading crude explorer and producer, through exploration well GNN-11 in the concession's North Geisum field, it said in a statement, adding that the well currently produces more than 2,500 barrels of oil per day.

The North Geisum, South Geisum, Northeast Geisum, and Tawila West fields are all included in the Geisum and Tawila West Concession, which is situated in the Gulf of Suez's southern entrance, according to Egypt Today magazine.

Thanks to the successful drilling program in the well, the total output of the North Geisum field is 23,000 barrels per day, the ministry said.

The well is the fourth to be completed and another three wells could be drilled as part of the current phase of exploration, it noted.

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