Cumulative qualitative and quantitative analysis of the filtered regional and residual magnetic components of the northeastern central area of the Gulf of Suez, as well as images of the second vertical derivatives of the reduced to the northern magnetic pole map of the total magnetic intensity field images, supplemented with the available geologic information, enabled the precise delineation of the detailed structural configuration of the basement complex, which consequently illustrated the structural deformational pattern of the overlying sedimentary succession. The basement tectonic map reflects a series of NeS to NNWeSSE oriented belts of high and low basement structures. These structures are interrupted by a set of NEeSW crossing diagonal faults having varying throws and creating promising blocks for exploration. An often remarkable correlation between the reduced to the magnetic pole map and the basement relief map is noted, in particular the outline of various oil fields. A larger number of the tilted fault blocks and basement culminations have been outlined and numerous interesting exploration prospects are indicated, which appear to warrant further follow up investigation.