The joint venture working in Abu Sennan began production from a well just two months after the discovery, United Oil & Gas said.
The ASD-1X well is producing 1,295 gross barrels per day, with 285 bpd net for United’s 22% stake.
United CEO Brian Larkin highlighted the speed at which progress was coming. This, he said, demonstrated “the enthusiasm we share for the long-term potential of the license, which continues to bear fruit for the company.”
The Egyptian Ministry of Petroleum approved the ASD-1X development permit on May 26. This is the eighth development lease on Abu Sennan.
Larkin said the well is expected to add proved reserves to the license. Kuwait Energy operates Abu Sennan.
The well is 12 km from the Al Jahraa field. It reached a total depth of 3,750 meters at the end of March. It found 22 meters of net flow and sank at 1,619 b / d gross from the Lower Bahariya reservoir and 1,215 b / d from the Abu Roash C reservoir.
The company also noted that a reconditioning had been performed on the ASH-1ST2 well. This added over 1,000 b / d gross, or 220 b / d net. Based on these flows, the well should pay off its investment in less than a year.
“Along with the exploration success at Abu Sennan, the encouraging results of the ASH-1ST2 reconditioning will give new impetus to production and also help improve our understanding of the ASH field,” said Larkin.
The EDC-50 rig is drilling the Al Jahraa-8 development well. She started working on the well on May 2. It targets reservoirs similar to those producing ASD-1X.
United has assets in other countries, but is primarily focused on its operations in Egypt. This year, the company planned to spend $ 5.4 million, covering three wells and five workovers.