NO. 38



IEOC Discovers Oil at Al-Ashrafiya in the Gulf of Suez

The Agip subsidiary International Egyptian Oil Company (IEOC) has made anoffshore oil discovery at al-Ashrafiya, north of Hurgada, at a distance of 11kms. from the west coast of the Gulf of Suez. The find is reported to have anoutput potential of some 12,000 b/d of light, good quality crude oil. Fouralternative outlets for the output of the find are being considered by linkingit to the nearby production...