GUPCO and BP Announce Two Discoveries in the Gulf of Suez

Gupco and BP Amoco have announced two new discoveries in the Gulf of Suez with combined proven reserves estimated at 35.5 million barrels. The first discovery well has a capacity of 10,000 barrels a day with proven reserves of 29 million barrels while the second discovery well has a capacity of 3,000 barrels a day with proven reserves of 6.5 million barrels. The reserves from the second well could go as high as 14 million barrels. The discoveries are operated jointy by GUPCO and BP.
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