Khaleda Petroleum Company, representing Apache Corporation and the Egyptian General Petroleum Corporation, has announced a significant oil discovery in the West Fayum-I area of the Kalabsha development zone, located in Egypt’s Western Desert.
The company disclosed that during a well test, they drilled 270 feet into Paleozoic sands, leading to the discovery of 23 million cubic feet of associated gas.
Electrical logs confirmed petroleum indicators within the Paleozoic formation, revealing a total net thickness of 462 feet.
Additionally, the Egyptian Ministry of Petroleum and Mineral Resources announced on Wednesday that the Egyptian Natural Gas Holding Company (EGAS) has launched a new international bidding round for 2024.
This round invites exploration for natural gas and crude oil in 12 blocks located in the Mediterranean Sea and the Nile Delta.
In related developments, Egypt and the UAE have recently signed a memorandum of understanding to implement an integrated system from the Fujairah petroleum zone at the Hamra Petroleum Port on the Mediterranean coast.
