No. 8



IEOC Makes New Gas Discovery In Offshore Timsah Permit

The Agip subsidiary International Egyptian Oil Company (IEOC) has made a new gas discovery in the Timsah permit in Egypt's Nile Delta offshore. The permit is held by IEOC (50%, operator) and Amoco (50%). The discovery well, Abu Seif-1, located 47 kms. north of Port Said in 25 ms. (82 ft.) of water, tested at a rate of 10.2mn cu. ft./d of gas. The discovery reportedly confirms the potential of the targeted...