Newsroom

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”)…

Cheiron Makes One of the Most Promising Discoveries in the Geisum Area

In mid 2019, Cheiron, through the Petrogulf Joint Operating Company, made an encouraging exploration discovery in the Nukhul formation north west of the main Geisum field. This is the first time that the Nukhul sand has been found to be hydrocarbon bearing in the Geisum and Tawila West Concession area (the “Concession”). Petrogulf (an Operating Company of EGPC, Cheiron and Kufpec) is currently drilling the first of three appraisal wells that will allow the partners to delineate the discovery and…

The Geisum & Tawila West Concession Extended until June 2027

Cheiron is pleased to announce the extension of the Geisum & Tawila West Concession until June 2027. Under the terms of the extension, two exploration wells will be drilled in 2019. Cheiron operates the Concession with a 60% working interest, with Kufpec Egypt holding the remaining 40%. The Geisum & Tawila West Concession is located at the southern entrance of the Gulf of Suez, and covers the North Geisum, South Geisum, Northeast Geisum and Tawila West fields. The site, which…