GEMSA Petroleum Company (GEMPETCO) is preparing to clarifying the rock structural in Gemsa field in its acquisition area in Gulf of Suez, aiming to open more layers in the producing wells near the end of the first quarter of the current fiscal year of 2010-2011.
Egypt Oil & Gas newspaper learned that the total investment of this operation is $300,000 as the company targeting to boost its production. Both the company’s fields, Gemsa and El Zafrana, are considered on the top of the fields producing crude oil for the company. The Gemsa field produces 2400 barrels per day.
It is worth mentioning that GEMPETCO is a joint venture company between EGPC and the Egyptian compny PICO.