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A New Petroleum Discovery in South Egypt

Source: www.gulfoilandgas.com 2/27/2015, Location: Africa

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Ganoub El Wadi Petroleum Holding Company achieved a new petroleum discovery ; "Malak" in South Egypt at West Esh El Mallaha concession area affiliated to the English Company Aminex, 30 km off Hurghada. This is the fourth petroleum discovery achieved in Southern Egypt region. Tests showed production flow rate of about 430 barrels per day of light crude oil, high-quality degree of 40 API and estimated reserves of about 9.6 million barrels. Commercial production of the new discovery is planned to commence in the second quarter of this year, along with increasing production rates where a plan for the development of the new discovery will be implemented by drilling 7 new wells.

Minister of Petroleum confirmed that achieving new discoveries in Upper Egypt will contribute to the promotion of positive indicators toward the petroleum potentials in that untapped region, which counts for two-thirds of Egypt's area, and opens new horizons for petroleum activity intensity . In addition, increasing the attractiveness of investments of international companies to the South to maximize the discovery of Petroleum resources, particularly after the good indicators realized in El Baraka field at Kom Ombo area, which marks the discovery of oil and its production for the first time in Upper Egypt.

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