News listings

energy-pedia exploration

Egypt flagEgypt

Middle East / Africa >>> Egypt

Egypt: Cheiron announces first oil achieved from the GNN discovery in the Southern Gulf of Suez, Egypt

21 Jun 2020

Photo - see caption

Cheiron has announced that the GNN-4 well, which was drilled to appraise the recent GNN oil discovery, has been completed and successfully tested at initial rates of over 2,000 bopd.  The well was drilled as a high angle wellbore from the existing Geisum D platform and has been placed on long term production using the existing field infrastructure.

The discovery, which contains an estimated 260 MMbbls of oil in place, is located on the Geisum and Tawila West Concession in which Cheiron (through its PICO GoS affiliate) holds a 60% participating interest and operatorship and Kufpec a 40% participating interest.

Photo - see caption
Source: Cheiron

The Concession is managed by a Joint Operating Company owned by the Egyptian General Petroleum Company, Cheiron and Kufpec and called PetroGulf Misr ('PGM') which is technically supervised by South Valley Egyptian Petroleum Holding Company. The Concession contains the mature Geisum oil field (with 32 active wells, extensive offshore infrastructure and onshore plant at Zeit Bay) which has been on production since the 1980s.

GNN was discovered in July 2019 by the GNN-3 exploration well which was drilled in a separate fault block located to the north east of the main Geisum field. The discovery well encountered almost 500 feet of good quality net oil pay in the Nukhul formation and, given the very encouraging well results, a 3 well early production and reservoir appraisal drilling program is underway.

The GNN-4 well will be followed by two further wells to be drilled from the D platform in the southern area of the discovery.  Subsequently, the development focus will shift to the northern area of the discovery where additional drilling is planned, along with the tie-back of the GNN-3 well for early production. The full field development will leverage the existing Geisum facilities to accelerate production and minimize costs and will also involve the installation of new platform and pipeline infrastructure.

The discovery is the first to be made in the Nukhul formation in the Geisum area and will open up further exploration potential, both within the Concession and in the neighboring acreage. It comes after the implementation of an extensive, multi-year exploration and development campaign by PICO GoS and its Partners, designed to maximise the economic reserves recovery from the Concession. From a more regional perspective, the oil find has again demonstrated that, whilst the Gulf of Suez is a relatively mature hydrocarbon province, the region still has significant remaining exploration potential.

Cheiron and its affiliates have been operating in Egypt for almost 30 years and it currently produces around 50 kboepd (approx. 80% of which is from Egypt). The company operates a broad portfolio of producing and development assets in Egypt, in the Gulf of Suez, Western Desert and Nile Delta, and holds international assets Mexico and Romania.

Original article link

Source: Cheiron

Bookmark and Share

A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.

Subscriber Only Deals

Current Deals

Current Upstream Deals: 356

Completed Deals

Completed Upstream Deals: 5475

Company Profiles

Current Company Profiles: 2720

Corporate Activity

Current Corporate Activity articles: 3485

Companies Looking

Current number of articles: 438

Company Sales

Current Company Sales articles:1419


Current Geostudies articles: 731

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...

energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...

energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...


Subscribe to the FREE
energy-pedia Daily Newsletter

Government of South Australia
SLR Consulting logo
Union Jack Oil 149
Rose & Assocs 149
KL Publishing
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans

Tel: +44(0)1727 822675