New Oil Discovery in Abu Rudeis Area in South Sinai

The Petroleum Ministry announced that Belayim Petroleum Company (PETROBEL) made a new oil discovery in Abu Rudeis-Sidri area in South Sinai.

In a statement, the ministry said Petroleum Minister Tareq el Mulla received a report from PETROBEL Chairman Atef Hassan that his company discovered a layer of crude oil, with vertical thickness of 35 meters of sedimentary rocks and 65 meters of limestone rocks.

According to the report, the new oil discovery constitutes a new challenge to the company.

The company plans to draw up an expanded development plan for the area, including the drilling of 10 wells, at a production rate of nearly 3,000 barrels per day, the report added.

The company is currently studying means maximizing production through the application of hydraulic fracturing technology, it said.

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