Project Profile
Value: US$500 million
Location: West shore of the Gulf of Suez
Start-up Year: 2011
Recoverable reserves: 93 million barrels
Rally Energy looks to triple the output from the Issaran heavy oil deposit by 2010. The field is located on the west shore of the Gulf of Suez. As of the end of 2006, the acreage was estimated to have 700 million barrels of original oil-inplace (OOIP), of which 93 million barrels are recoverable. Rally Energy has a 100% operating interest in the Issaran heavy oil field, an onshore asset in the Gulf of Suez.Rally Petroleum of Canada, sold their interests in the field in 2008 to National petroleum co. of Egypt. Scimitar is the operator of the field with production reaching 4500 bopd in March 2010.
Operator:
National petroleum co. of Egypt
Scimitr