Petroleum Africa
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Wednesday, August 19, 2015
Egypt is about to make a move to exploit tar sands in the country. The country’s state-run oil firm charged with the responsibility of the industry in Upper Egypt, Ganope, is developing an integrated plan for a number of its concessions in the region.
The company’s chairman, Abu Bakr Ibrahim told Al-Mal newspaper that there would be an international tender launched soon.
Ibrahim said the plan includes studying mechanisms of for the exploitation tar sands in the Red Sea and Qasir/Safaga area. He said that Ganope had already drilled 10 new wells with positive results. The wells have reserves estimated at four billion barrels of tar sands.
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