Egypt is the only country in Africa which, despite the current crisis, shows a certain consistency in its oil development plans and in its discoveries. This is the result of an effective exploration policy initiated several years ago.
In Egypt, United Oil & Gas announced the discovery of an onshore crude oil field in the Abu Sennan concession in the Western Desert. The EDC-50 platform intersected a 22m oil column on the ASD-1X well, notably through the Abu Roash C, Abu Roash E, Lower Bahariya and Kharita formations.
The work reached a total depth of 3,750 m on March 30, several days before the initially scheduled end of the work and within budget. Well testing to determine production rate is scheduled to start next week. If United Oil & Gas is satisfied with the data it obtains, it will submit an application for a development lease to the Egyptian authorities.
“Today’s announcement is another positive result from Abu Sennan, which early interpretations are in line with our pre-drilling estimates. With well testing scheduled to begin shortly, we look forward to understanding the full potential of the ASD-1X well. […] We will continue to work with our joint venture partners to prioritize these opportunities which can be put into production at short notice. Said Brian Larkin (pictured), the boss of the company.
Once this step is completed, the drilling platform will proceed to the AJ-8 development wells that target Abu Roash and Bahariya reservoirs.
United Oil & Gas controls a 22% stake in this concession alongside Kuwait Energy Egypt, the operator with 25%, Global Connect with 25% and Dover Investments (28%).
Source Ecofin Agency