Petroleum Africa
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Thursday, August 6, 2015
Hibiscus Petroleum out of Malaysia announced that its wholly-owned subsidiary Gulf Hibiscus, partnered with Pacific Oil, have won access to the South East Ras El Ush concession (Block 2). The block win was part of Ganope’s licensing round.
Pacific Oil will be the operator of the concession to leverage on its management team’s experience in Egypt.
The offshore Block 2 is located in the southern Gulf of Suez, the most prolific petroleum province in Egypt. The block covers an area of 68 sq km with water depth of up to 75 meters, and is surrounded by development leases.
The block contains the discovered West Ashrafi field, which may be developed with a production tie-in to the nearby existing onshore infrastructures. Two wells previously drilled in the West Ashrafi field had tested commercial oil and gas.
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