International oil companies double their investments in Egypt
International petroleum companies have doubled their investments in natural gas exploration and oil field development in Egypt over the past year, reported Al Ahram. Companies are not confining their interest to traditional areas such as the Delta, the Gulf of Suez and the Western Desert but have extended to the deep waters of the Mediterranean Sea where four giant rigs are now operating. The rigs are using the latest technology in drilling to depths reaching to nine kilometers under sea surface.
The Canadian-based petroleum resource company, Drucker announced in January the commencement of drilling operations at the Hana Deep 1 location, on the west Gharib block in Egypt. The Hana Field is currently producing approximately 1,200 barrels per day (bpd) of 26 -degree API oil from the Miocene Kareem reservoir.
According to a press release, the site is the first of a planned three-well exploration program, to be drilled within the limits of the Hana Field but will explore the multi reservoir potential of the Rudeis Sand to a depth of approximately 7,000 feet. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
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