What's new in exploration ///

A wildcat drilled by Ocean Energy struck oil on its East Zeit concession, located offshore Egypt in the Gulf of Suez. The A-21 well was drilled to a 16,300-ft TD and encountered about 745 ft of gross oil pay. Initial production should have begun by November. Ocean holds a 100% working interest in the field. The discovery could add 40 to 80 million gross bbl to the 87 million bbl already produced from the East Zeit field. "This discovery exemplifies the appreciable exploration upside that remains in what is considered a mature province," said John Schiller, executive vice president of operations.

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