Petzed, a fully owned subsidiary of National Petroleum Company (NPC), achieved a new commercial oil discovery in South Abou Zeneima, announced the Egyptian Ministry of Petroleum in a statement.
The well tested in Muzhil-1 field, 1900 barrels of oil per day in aggregate from two different layers.
Muzhil-1 is located in the South Abou Zeneima block situated on the Eastern side of the Gulf of Suez. The block covers 151 km2 in area and is surrounded by producing fields such as Rhudeis, October and Tanka. The block is fully covered by 3D seismic data.
Petzed acquired 100% stake in the South Abou Zeneima concession in March 2006 with transfer of ownership in December 2006 by a deed of assignment.
While the Muzhil-1 discovery is the first discovery in this block, Muzhil 2 is currently being drilled, and expected to reach its total depth by end of July.