The Geisum and Tawila West Concession in the Gulf of Suez was the site of a fresh oil discovery, according to the petroleum ministry of Egypt on Tuesday.
According to the ministry, Cheiron, an Egyptian company that presently produces more than 2,500 barrels per day, made the latest discovery through exploration well GNN-11. The ministry reported that the fourth completed well might be followed by three more during the current exploring period. The field, which is in North Geisum, is currently producing a total of roughly 23,000 barrels per day, the ministry noted.
