US-based Ocean Energy will install a new platform and drill a development well on its East Zeit concession offshore Egypt in the Gulf of Suez. The project is part of the company’s one billion dollar capital investment program for the year 2003.
Ocean holds a 100 percent working interest in the East Zeit field. The company drilled an exploratory well at East Zeit in 2001. The A-21 wildcat well was drilled to a total depth of 16,300 feet and encountered approximately 745 feet of oil pay.
Ocean Energy is an independent energy company engaged in the exploration, development, production and acquisition of crude oil and natural gas. Internationally, the company conducts operations in Egypt, the Russian Republic of Tatarstan, Brazil, and Indonesia. Ocean is engaged in West Africa with oil and gas activities in Equatorial Guinea, Angola and Cote d'Ivoire. — (menareport.com)
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