Cheiron is pleased to announce that the ED-2X well has been put on production on 26 September 2023 after the commercial discovery of gas on the East Damanhur block in the Nile Delta at the end of 2022. Cheiron acquired a 40% working interest in the block in October 2020 through an exploration farm-in, the Concession partners are Wintershall Dea (the operator, with a 40% working interest) and INA (20% working interest). The gas well was promptly connected to the…
New oil discovery near the GNN oil field in the Gulf of Suez
Cheiron is pleased to announce that it has made a new oil discovery in the Geisum and Tawila West Concession (“the Concession”) in the Gulf of Suez. Cheiron (through its PICO GOS affiliate) holds a 60% working interest and operatorship in the Concession, with Kufpec holding the remaining 40% interest (together, the “Partners”). The field operations are managed by the PetroGulf Misr Joint Operating Company on behalf of EGPC (50%) and the Partners (50%). The discovery was made by the…
GNN Oil Field Early Production Facility Brought on Stream
Cheiron Energy, the largest independent Egyptian oil and gas E&P company, is pleased to announce that the Early Production Facility (“EPF”) for the GNN oil field in the Gulf of Suez has been brought on stream. The GNN field is located in the Geisum and Tawila West Concession (“the Concession”) in which Cheiron (through its PICO GOS affiliate) holds a 60% working interest and Operatorship, with Kufpec holding the remaining 40% interest. The EPF has been installed in the central…
West El Burullus Project Sanction
Cheiron, is pleased to announce that it has recently sanctioned the West El Burullus (“WEB”) offshore gas field development in the shallow waters of the Mediterranean Sea. Cheiron operates and holds a 100% working interest in the WEB Concession and the project will be executed through Cheiron’s PetroWeb Joint Venture company. The development comprises two gas fields, namely, WEB and the nearby Papyrus field, and will involve the installation of two new platforms and the drilling of 6 wells and…
East Damanhur Exploration Discovery
Cheiron is pleased to announce a gas discovery in the ED-2X well drilled on the East Damanhur Concession, onshore in the Nile Delta. Cheiron acquired a 40% working interest in the block in October 2020 through an exploration farm-in and the other owners are the Wintershall Dea (the operator, with a 40% working interest) and INA (20% working interest). The exploration activities under the new Concession Agreement commenced in November 2021 and the new gas discovery was made with the…
Cheiron targets 25% reduction in greenhouse gas (GHG) emission intensity by 2025
As part of Cheiron’s efforts to reduce GHG emissions across its operations, it is working closely with its various Joint Operating Companies (“JOCs”) to identify and implement investment opportunities specifically focussed on emissions reductions. Cheiron has also set ambitious goals to encourage these initiatives, including a target to reduce its GHG emissions intensity (tCO2eq/toeq) 25% by 2025 and has also committed to eliminate routine flaring as soon as practical and in any event no later than 2030, in line with…
Cheiron Petroleum Corporation announces the completion of its acquisition of 50% of Shell’s Egyptian Western Desert assets
Cheiron Petroleum Corporation (“Cheiron”) is pleased to announce that it has completed the acquisition of 50% of Shell’s upstream oil and gas assets in the Western Desert. The remaining 50% of the interests will be purchased by Cairn Energy PLC (“Cairn”), Cheiron’s strategic partner. The acquisition confirms Cheiron position as a leading Egyptian oil and gas operator and, following its successful long term investment program in the Gulf of Suez, cements its position as a Western Desert producer. The acquired…
Cheiron acquires a 40% share in the East Damanhur Concession (Onshore Nile Delta) from Wintershall Dea
Cheiron is pleased to announce that it has acquired a 40% working interest in the East Damanhur Concession (the “Concession”) from Wintershall Dea, which will continue to operate the Concession, and INA-Industrija nafte, d.d. has acquired the remaining 20%. The Concession is located in the western region of the onshore Nile Delta, close to Cheiron’s West El Burullus offshore development lease in the shallow waters of the Mediterranean Sea. The acreage is relatively underexplored and has a material level of…
CHEIRON PETROLEUM CORPORATION AGREES TO ACQUIRE 50% OF SHELL’S ONSHORE UPSTREAM OIL AND GAS INTERESTS IN EGYPT
Cheiron Petroleum Corporation (“Cheiron”), Egypt’s largest independent Exploration and Production company, is pleased to announce that it has agreed to purchase 50% of Shell’s upstream oil and gas interests in the Western Desert. The remaining 50% of the interests will be purchased by Cheiron’s strategic partner, Cairn Energy plc, a new entrant into the Egyptian upstream sector. Cheiron will operate the production and development concessions in the asset portfolio, using the experience gained over three decades of improving safety, production,…
First Oil Achieved from the GNN Discovery in the Southern Gulf of Suez, Egypt
Cheiron announces that the GNN-4 well, which was drilled to appraise the recent GNN oil discovery, has been completed and successfully tested at initial rates of over 2,000 bopd. The well was drilled as a high angle wellbore from the existing Geisum D platform and has been placed on long term production using the existing field infrastructure. The discovery, which contains an estimated 260 MMbbls of oil in place, is located on the Geisum and Tawila West Concession (the “Concession”)…