A oil deposit in the heart of Egypt He has surprised experts. The country is very close to large producers such as Algeria and Libyabut I had never stood out for the volume of crude. Now, it enters strongly into the Hydrocarbons Market Thanks to a finding that gives a turn to the local economy.
Known for their spectacular Pyramids And for one of its economic pillars, the Suez CanalEgypt now has an oil site that, although small, is producing large quantities. It is in the Gulf of Suez and time to begin the exploitation work of this discovery, care will be taken not to cause problems in the traffic and functioning of the channel, which is the epicenter of the business and politics of the pharaonic country .
Because the Suez channel, which is very close to the point where the ‘Black Gold’ It will generate (for the moment) more income than what can be removed from this deposit. It is estimated that they will be A few million barrels. A very small amount compared to other great findings such as Namibia and Ivory Coast.
The second oil discovery in Egypt in a short time
Although the Egyptian geographical conditions do not make it one of the paradises of the crude oil market, it is the second time in a short time in which oil is found. Thanks to this, Energy production will improve and will become less dependent on imports from other countries.
The new well East Crystal – 1 of the Gulf of Suez It has been a success, as the Dragon Oil company has pointed out, along with the Gulf of Suez Petroleum Company. Now, something that seemed unthinkable has been achieved, improve the exploration of hydrocarbons in this region and place it as a great key point for trade.
How is the East Crystal oil deposit – 1
The oil site discovered in Egypt is in the so -called Hawara layer with a 16 -foot thickness and production of 2,000 barrels of crude. Now, it is known that under this there is another layer that is still a mystery but to which they have already named.
His name is Honey Layer and exceeds 100 feet thick. Gupco experts hope that in a short time and after extensions, 5,000 raw barrels will be reached per day.
Millions of oil barrels to boost the economy
Before the work began, the technicians trusted locate a site that supposed A substantial change in the local economy. In this sense, a reserve of 8 million barrels was expected, and this leaves more options for new jobs.
The same Egyptian government has put the batteries to boost more explorations that reveal new findings. This is the second discovery that has been made in recent months using seismic exploration technology, thanks to which you can get very clear images of the back of the sea.
With these ‘photographs’ you can Easily distinguish the areas in which hydrocarbons are.
What is the Suez channel, which is very close to the finding
The Suez channel is one of the larger economic impulses (If not, the eldest) that Egypt has. Thanks to him, trade has been promoted and important political strategies have been carried out. It serves to connect Europe with Asia and Africa, to trade different products.
Now it will also be among the main means to transport oil. A wealth that not only moves on its channel, but now it has been discovered that it is under its waters.
Although Egypt has never been one of the worldwide energy powers, it is making its way in the energy market thanks to its partners. The demand for gas and oil by certain countries is increasingly high and therefore, having this new site is crucial, despite being reduced.
Egyptian oil is increasing since the last century
In the mid -twentieth century, oil deposits began to be discovered of great importance in Egypt such as the Red Sea and the one located in the western desert. As they emerged, foreign powers set on them, so in the country of the pharaohs they took it seriously and considered diversifying the economy.
For many years, Egyptian oil was one of its sources of wealth, coming to add a million barrels per day. But something changed and in recent years that production has been reduced. Currently, internal demand is not covered, with approximately 540,000 barrels.