Egypt has made three new oil and gas discoveries in the Western Desert and the Gulf of Suez, as the government pushes to ramp up energy production and attract further investment in exploration, the Petroleum Ministry said Monday. According to the statement, Khalda Petroleum Company reported a significant natural gas discovery on May 11 at the South NUT-1 well in the Western Desert. Preliminary data showed gas-bearing formations in the Safa sands of the Paleozoic layer with a net pay of 253 feet. Estimated reserves stand at 12.5 million barrels of oil equivalent, including 62.7 billion cubic feet of gas and 1.15 million barrels of condensates. Daily output is expected to reach 30 million cubic feet of gas. A development plan is underway, including a 23-kilometre, 10-inch production pipeline with projected investment of $10 million. Additional exploratory drilling is also planned to further boost output. The ministry statement detailed Petrobel's announcement of an oil find on May 8 from its West Feiran-2 appraisal well in the Gulf of Suez, yielding 2,660 barrels of oil per day from a 27-metre perforated zone in the Asl sands. Reserve estimates are being evaluated. Gulf of Suez Petroleum Company (GUPCO) also reported a new oil discovery on May 1 at the GS327-A15 exploratory well. Initial tests showed a production rate of 720 barrels of oil per day from the Kareem formation. Reserve assessments are ongoing. The discoveries underscore Egypt's continued efforts to strengthen its energy sector and solidify its position as a regional hub for oil and gas. Attribution: Amwal Al Ghad English
