The Abu Qada Formation is a reference interval for the Cenomanian–Turonian boundary event in the northeastern margin of Africa. In this paper, geochemical, biostratigraphical, and carbon isotope ratio studies are presented using high-resolution well data yielded from the Gulf of Suez, Egypt to evaluate the paleoenvironmental condition, sequence stratigraphy and source rock potential of the Upper Cenomanian/Lower Turonian Abu Qada Formation. A total of 12 core samples and 4 ditch cuttings were collected from OCT-A8St1 well in the October Oil Field for geochemical, palynological and calcareous nannoplankton analyses. Cyclostratigraphic analysis was prepared to characterize the electrofacies change along the Cenomanian/Turonian boundary interval including the Oceanic Anoxic Event 2 (OAE2). The Predictive Error Filter Analysis (PEFA) patterns and Integrated Predictive Error Filter Analysis (INPEFA) curves found 3rd order cycle of the OAE2 within the global third-order cycle Ce5. A stable carbonate isotope analyses with total organic carbon (TOC) resulted in a remarkable positive excursion δ13Ccarb (3.67‰) associated with change in the TOC content. The quantitative analysis of calcareous nannofossils indicates the high productiveness of nannoplankton around the Cenomanian/Turonian boundary interval. The high abundance of the Discorhabdus genus proves the paleoenvironmental change during the OAE2 interval. The palynofacies interpretation indicates the lower part of Abu Qada Formation to be deposited in a slightly reducing conditions at the inner neritic setting, while the upper part of Abu Qada to lower part of Wata formations were deposited in deeper marine setting under anoxic conditions. These changes in the overall depositional conditions are documented by the remarkable change in palynofacies and organic carbon content (TOC). Dark gray shale and carbonate sediments are interpreted to be a good source rock potential by kerogen quantified palynofacies analysis indicating oil and gas prone producing materials (Kerogen types II and II/III). The best source rock quality is associated with the Abu Qada Formation's OAE2 record. These criteria allow us to identify the occurrence of OAE2 record in the Gulf of Suez petroleum province as a useful tool for high-resolution chronostratigraphic analysis.