Marathon Discovers Oil In Gebel El-Zeit Tract
Egyptian Oil Minister Hamdi al-Banbi on 15 March announced the discovery ofoil by Marathon in the onshore/offshore Gebel el-Zeit permit on the southwestcoast of the Gulf of Suez. The discovery well, located at Ras al-Ish about 15kms. north of Suco's Zeit Bay field, tested at a rate of 3,900 b/d of 33ø APIcrude oil from a depth of about 4,400 ft. The Minister has requested the companyto expedite the development of...