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 includes 87 wells, six offshore platforms, five production pipelines and an onshore storage facility, forms the center of Cheiron’s production and storage hub. Production from the Concession currently averages 4,900 bbl/d.