The Ministry of Petroleum and Mineral Resources has announced, in a press release published on Thursday November 20, a new discovery major oil in the Gulf of Suez. The new well, which will enter production within a few days, at an initial flow estimated at nearly 3,000 barrels of crude oil per day, the statement said.

The Ministry of Petroleum and Mineral Resources has announced, in a press release published on Thursday November 20, a new discovery major oil in the Gulf of Suez. The new well, which will enter production within a few days, at an initial flow estimated at nearly 3,000 barrels of crude oil per day, the statement said.

This discovery comes as part of the efforts ongoing efforts to stimulate local production and reduce imports. Made by the company GUPCO (Joint Operating Company formed by the Egyptian General Petroleum Authority and the Emirati company Dragon Oil), This discovery is the result of the successful drilling of the Crystal exploration well North-East Ramadan.

The discovery is part of a series of successes in oil and gas exploration work. It is the result of the appeal to the most modern technologies, in particular seismic studies of the seabed ocean science (OBN), a technique that consists of studying marine geology and probe the land layers under the sea.

“These technologies have made it possible to explore structures geologic sites that were once inaccessible,” the press release said.

The Al-Fanar oil platform, which is owned by the General Petroleum Authority, was used to drill the well and will be also used for production, which makes it possible to avoid the use of new platforms and to reduce costs.