New oil discovery in Egypt with production of 1,500 barrels and 8 million cubic feet of gas daily

Cairo - Nadeh Imam: The Egyptian Ministry of Petroleum and Mineral Resources announced that Petrofrontier, a subsidiary of the South Valley Egyptian Holding Company for Petroleum, successfully drilled the exploratory well “Lorkan-6” in the North Gulf of Suez area at Jabal al-Zayt (Oil Mountain) in the Eastern Desert, as part of efforts to support and increase domestic oil and gas production.

According to a statement from the Ministry of Petroleum, tests yielded positive results, with a production rate of 1,500 barrels of crude oil and 8 million cubic feet of associated gas per day.

The drilling of the well is part of the Ministry’s efforts to intensify exploration and research activities, develop petroleum resources, and boost domestic production rates by expanding drilling operations and capitalizing on promising opportunities in concession areas, in cooperation with investment partners and in coordination with the Egyptian General Petroleum Corporation and the South Valley Egyptian Holding Company for Petroleum.

Exploration and research activities in Petrofrontier’s concession area are being carried out under the investments of Dana Petroleum and the Korea National Oil Corporation (KNOC), supporting continued exploration and assessment of the region’s petroleum potential.

The “Lorkan-6” well is scheduled to be connected to production following the completion of the testing program and necessary technical procedures, coinciding with the updating of geological data and maps and the analysis of test results to identify opportunities for drilling new wells and maximizing the utilization of available petroleum resources.