Middle East Economic Survey

VOL. LIV

No 46

14-Nov-2011

EGYPT

Petrobel Announces New Oil Discovery In Sinai

Egypts Belayim Petroleum Company (Petrobel) has made a new oil discovery in Sinai, which tested at a rate of 2,270 b/d of crude. The new find, located some 40km south of Abu Rudais city, was made at a depth of 3,012ms in an exploration well with a horizontal section. The discovery was announced on 4 November by the head of Petrobel, Midhat al-Sayyid, in a report submitted to Egyptian...