Sipetrol Makes 8th Oil Discovery in North Bahariva



The international Sipetrol subsidiary of Chile's state oil company Enap has made its eighth oil discovery in the North Bahariva concession in Egypt's western desert, the company said in a statement.

One zone of interest was tested with an initial production of 500 barrels of crude a day (b/d) with API grade 40, but production was later increased to 570b/d, the statement said.

Sipetrol operates the North Bahariva concession with a 50% stake. Oil production began in September 2004.

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