Egypt's Velox-1X Well Raises Prospect of 1st Oil Discovery in Western Mediterranean

Egypt's Velox-1X Well Raises Prospect of 1st Oil Discovery in Western Mediterranean

Shell-led offshore exploration campaign identifies promising oil indicators, opening a new frontier for crude discoveries in one of the Mediterranean's least-explored basins.

Egypt deepwater well yields promising oil discovery

Drilling operations at the offshore exploratory Felix-1X well in Egypt’s North Cleopatra concession have identified promising petroleum indicators. The findings confirm the presence of an active petroleum system and crude oil in the western Mediterranean, raising hopes for the region’s first major crude oil discovery once technical evaluations conclude. Drilling began on May 23 and successfully reached its target geological layers at a total dep…