Gupco Makes Substantial Discovery in Suez
Gulf Gupco - owned 50% by the Egyptian General Petroleum Corporation (EGPC)and 50% by Amoco - has made a substantial oil discovery east of the Badri fieldin the Gulf of Suez. The discovery well tested at a rate of 10,400 b/d of 29API crude oil from a 200-ft. sandstone pay zone. Further drilling is planned toevaluate the size of the find for which the production facilities of the nearby Badri field can be used. The Badri...