The Egyptian oil and gas company Cheiron has discovered an oil field in the Gulf of Suez, according to the country's Ministry of Petroleum and Mineral Resources. It has an extraction capacity of 2,500 barrels per day.
The discovery was made in the Jessum and Tawila West concession area. Field operations are managed by Petrogulf Misr, a joint venture between Egypt General Petroleum Corporation (EGPC), Cheiron and Kufpec.
The roduction volumes there currently stand at 2,500 barrels per day. This is the fourth well discovered in this area, with total production reaching 23,000 barrels per day, according to the Egyptian authorities.
Booming national production
Egypt has been actively developing its energy sector. At the end of 2022, its Ministry of Petroleum announced the discovery of 53 oil and gas fields in the Western Desert, the Gulf of Suez, the Nile Delta and the Mediterranean Sea.
The authorities have also announced the release of 2.1 billion dollars between now and 2025 to increase hydrocarbon exploration in these last two regions.
With a total production of around 560,000 b/d, the country of the Pharaohs is currently ranked 27th in the world's largest producers of black gold by the Trading Economics portal.