'Beyond the oil horizon
, Vardo must create new means of production, and exploit the harbour as the centre of a post-carbon economy,' says Langdon.
And the known oil horizons
have proved to contain limited reserves compared with those in Libya or the Arabian Gulf, which Iran insist on calling this Persian Gulf.
Milne Point produces from three main reservoirs: The Kuparuk and Sag River reservoirs produce lighter oil horizons
while the Schrader Bluff reservoir produces viscous oil.
By then only 25% of Egypt had been explored, with IOCs having concentrated on oil horizons
. EGPC opened up some of the remaining 75% for exploration, with blocks offered annually.