Thursday, October 13, 2011

Oil Discovery at Western Desert, Egypt

Kuwait Energy Company KSCC (“Kuwait Energy”), announced it has encountered hydrocarbons in the GPZZ-4 and Al Ahmadi-1 wells located in the Abu Sennan concession in the Western Desert, Egypt.

The Abu Sennan concession is operated by Kuwait Energy in which it holds a 50% working interest with the remainder being held by Beach Energy Limited (22% working interest) and Dover Petroleum (28% working interest). These two new discoveries bring the total number of discoveries since 2008 by Kuwait Energy in Egypt to 13.

Kuwait Energy Deputy Chairman and CEO, Sara Akbar said: “We have registered yet another success in Egypt with these discoveries. Production testing on both wells is still ongoing to assess the volumes and commerciality of the hydrocarbon shows. We look forward to encouraging results, as well as continued success in Egypt.”




Al Ahmadi-1 (Beach 22%) is the second discovery on the Abu Sennan permit having encountered shows in the lower Baharya Formation, the Abu Roash ‘G’ Member and the Abu Roash ‘E’ Member. GPZZ-4 was drilled as the first well of a six-well program in the Abu Sennan concession. During initial testing, gas and condensate flows were recorded from the lower Bahariya Formation. These tests recorded gross flow rates of approximately 850 barrels (bbls) of condensate and seven million standard cubic feet (MMscf) of gas per day. This equates to a gross equivalent flow rate of approximately 2,000 barrels of oil equivalent (boe) per day. GPZZ-4 also recorded flows from the Abu Roash "G" Member and the upper Bahariya Formation with initial rates of approximately 150 bbls of condensate and 1.6 MMscf of gas per day.

The second well, Al Ahmadi-1, also recorded gas and condensate flows within the Abu Roash "G" Member. Initial tests recorded gross flow rates of approximately 800 bbls of condensate and 13.5 MMscf of gas per day. This equates to a gross equivalent flow rate of approximately 2,900 boe per day. Al Ahmadi-1 also recorded flows from the lower Bahariya Formation with initial rates of approximately 70 bbls of condensate and one MMscf of gas per day.

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