Egypt discovers new oil field in Gulf of Suez

Maria Novoselova / Vestnik Kavkaza

Egypt's petroleum ministry on August 22 announced a new oil discovery in the Geisum and Tawila West Concession in the Gulf of Suez.

"The well was drilled from the recently installed GNN Early Production Facility and has been successfully placed on production at a rate of over 2,500 [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, Egypt's ministry said.

Total output from the field, located in North Geisum, has reached about 23,000 barrels per day, the ministry added.

© Photo :Maria Novoselova / Vestnik Kavkaza