Gemsa Petroleum Company (GEMPETCO) is currently working on reassessing some of the data collected from the 3D seismic survey of some of the company’s fields.

This assessment is part of GEMPETCO’s drilling plan for the fiscal year of 2010-2011.

“We are studying the information we gathered from the 3D seismic survey that is conducted in the company’s acquisition area in Gulf of Suez, using all the geophysical and petrophysical data recorded from the wells,” said GEMPETCO official to Egypt Oil and Gas Newspaper.

GEMPETCO is the joint venture company between EGPC and the Egyptian company PICO.

“The studies aim to locate the oil bearing layers in the concession area in order to determine the accurate drilling spots and its nature whether development or exploratory,” he added.

The studies will also reveal the storage capacity of the current tank.