IndigoPool reports that it has a client that is inviting companies to participate in an offshore exploration program in the Gulf of Suez.
The prospect has an estimated upside potential of 300 MMBOE, is drill-ready, and is supported by high-quality 3D seismic data.
Up to 50% equity interest is available — providing companies with the chance to acquire a material position in a prolific, oil-producing province. The prospect is on trend with large existing oil fields and is close to infrastructure. Plans are to spud the well in the second half of 2008, which, upon success, would lead to timely first production.