Khalda Petroleum, Belayim Petroleum Company (Petrobel), and the Gulf of Suez Petroleum Company (GUPCO) have announced three new oil and gas discoveries in their concession areas in the Western Desert and the Gulf of Suez.

Khalda Petroleum succeeded in making the South NUT-1 discovery in the Western Desert. Electrical logs confirmed the presence of gas, which shows a net thickness of 253 feet. The well’s estimated reserves stand at about 12.5 million barrels of oil equivalent (mmboe). The expected production from the well is 30 million cubic feet of gas per day (mmcf/d).

Work is currently underway to measure pressures, and the well will be tested and evaluated as soon as possible. The company is also finalizing a plan to extend a 10-inch production line with a length of 23 km and investments of about $10 million. It is also completing a plan to drill several exploratory wells in the area to boost the company’s natural gas production in the near future.

Moreover, Petrobel made a discovery by testing and evaluating the appraisal well West Feiran-2 in the Gulf of Suez. A 27-meter interval was perforated in the Asal sands, and the recovered amount was 2,660 barrels of oil per day (bbl/d). The added reserve from the well is currently being assessed.

GUPCO made its discovery by testing and evaluating the exploratory well GS327-A15. A 38-feet interval was perforated in the Kareem sands, and the recovered amount was 720 bbl/d of oil. The added reserve from the well is also being evaluated.

The discoveries align with the Ministry of Petroleum and Mineral Resources’ plan to maximize production rates and encourage companies to increase their exploratory drilling activities, reflecting the potential of Egypt’s energy sector.