The Khaleda Petroleum Company, acting on behalf of the US-based Apache Corporation and the Egyptian General Petroleum Corporation, has announced a significant new oil discovery in the West Fayum-I area within the Kalabsha development zone in the Western Desert.
The company revealed that a well test was conducted by drilling 270 feet into Paleozoic sands, resulting in a discovery of 23 million cubic feet of associated gas.
Electrical logs of the well confirmed the presence of petroleum indicators within the Paleozoic formation, with a total net thickness of 462 feet.
The Egyptian Ministry of Petroleum and Mineral Resources also announced on Wednesday that the Egyptian Natural Gas Holding Company (EGAS) has launched a new international bidding round for 2024 to explore for natural gas and crude oil in 12 blocks in the Mediterranean Sea and the Nile Delta.
And Egypt and the UAE recently signed a memorandum of understanding to leverage the integrated system in the Fujairah petroleum zone and apply it to the Hamra Petroleum Port on the Mediterranean coast.
