Cheiron tests new well in GNN discovery, Gulf of Suez, Egypt

Cheiron has completed and tested GNN-4, which was drilled to appraise the recent GNN oil discovery on the Geisum and Tawila West concession at the southern entrance of Gulf of Suez, Egypt. It contains an estimated 260 million bbl of oil in place.

Initial test rates were over 2,000 bo/d. The well was drilled as a high angle wellbore from the existing Geisum D platform and has been placed on long term production using the existing field infrastructure.

GNN was discovered in July 2019 by the GNN-3 exploration well which was drilled in a separate fault block to the north east of the main Geisum field. It encountered almost 500 ft of good quality net oil pay in the Nukhul formation, and a 3-well early production and reservoir appraisal drilling program is underway.

The discovery is the first in Nukhul and will open further exploration, both within the concession and in neighboring acreage. It comes after the implementation of an extensive, multi-year exploration and development campaign by PICO GoS and partners.

GNN-4 will be followed by two wells from D platform in the southern area of the discovery. Subsequently, development will shift to the northern area where additional drilling is planned, along with tie-back of GNN-3 for early production. The full field development will use existing Geisum facilities and will also involve installation of new platform and pipeline infrastructure.

The Geisum and Tawila West concession is managed by PetroGulf Misr, a joint operating company owned by Egyptian General Petroleum Co., Cheiron, and Kufpec. It is supervised by South Valley Egyptian Petroleum Holding Co. The concession contains the mature Geisum field with 32 active wells, extensive offshore infrastructure, and an onshore plant at Zeit Bay. Cheiron, through its PICO GoS affiliate, is operator with 60% interest with partner Kufpec (40%).