Circle Oil Updates Ops at Geyad Field in Egypt

- Circle Oil Updates Ops at Geyad Field in Egypt

Wednesday, August 31, 2011
Circle Oil plc

Circle Oil announced the following update regarding the Geyad-5X water injection well drilled to support production in the Geyad Field.

Geyad-5X

Geyad-5X, located to the south-west of the field and downdip of the Geyad-1X ST discovery well in the Geyad Development Lease, was drilled to 7,350 ft MD in the Upper Rudeis. The main objective for this well was to appraise the Shagar and Rahmi sandstones of the Kareem Formation in a downdip location and to provide water injection to support oil production from the updip Geyad field wells. The Shagar sands were encountered with 15 ft MD of net reservoir, an average porosity of 14% and perforations made between 6,510 and 6,525 ft MD. The Rahmi sands were encountered with 15 ft MD of net reservoir, an average of 13% porosity and perforations made between 6,583 and 6,899 ft MD. As expected, below the field oil-water contact both sands were found to be water bearing. The well has been completed as an injector.

The rig has now been mobilized to drill the water injector well Al Ola-2, located on the south-eastern flank of the Al Amir SE field, downdip of the Al Ola-1X producer. The well is planned to appraise both the Shagar and Rahmi sands for injection in that location.

The NW Gemsa Concession, containing the Al Amir and Geyad Development Leases, covering an area of over 260 square kilometers, lies about 300 kilometers southeast of Cairo in a partially unexplored area of the Gulf of Suez Basin. The concession agreement includes the right of conversion to a production license of 20 years, plus extensions, in the event of commercial discoveries. The NW Gemsa Concession partners include: Vegas Oil and Gas (50% interest and operator); Circle Oil Plc (40% interest); and Sea Dragon Energy (10% interest).

Prof Chris Green, CEO, said, "I am pleased to report another successful result as the partnership's plans in NW Gemsa continue on schedule. The rig will now move to start drilling the Al Ola-2 injector well situated on the Al Amir SE field. The water injection program is part of the continuing plan to increase production rates for the medium and long term."

Oil & Gas Post

Promote Your Page Too
LINK

MENA Completes Stake Acquisition Offshore Egypt

- MENA Completes Stake Acquisition Offshore Egypt

Thursday, July 21, 2011
MENA Hydrocarbons Inc.

MENA has received co-venturer approval for the acquisition of a 55 percent participating interest in the West Mediterranean, Block 1, Segment A block located 60 km off the Mediterranean coast of Egypt. It is proposed that the acquisition be completed by an indirect wholly-owned subsidiary of MENA. An agreement with the current operator, Hess Egypt West Mediterranean Limited, has been signed as of May 31, 2011. The acquisition was subject to rights of preemption in favor of the existing co-venturers. The co-venturers decided not to pre-empt and have also given their consent to the transaction. MENA intends to seek appointment as operator following the outstanding approval of the Egyptian General Petroleum Corporation and the Egyptian Government and the completion of other customary closing conditions.

Five gas or gas-condensate discoveries have been made on the block. The block is under standard commercial terms for Egyptian concessions. The offshore development lease governing the block is valid for 20 years from the date of first gas deliveries, with an optional five-year extension. The purchase price is US $7.5 million (subject to adjustments) payable in cash.

Graham Lyon, President & Chief Executive Officer of MENA said, "We are another step further in implementing MENA's strategy of building a portfolio of development, production and high impact exploration assets and are pleased to have passed this important step in project capture for MENA in such a short time. We will work with our co-venturers and the authorities to proceed in this development license to a profitable venture and address the significant exploration potential."

Oil & Gas Post

Promote Your Page Too
LINK

Eni CEO, Egyptian PM Confirm Commitment in Egypt

- Eni CEO, Egyptian PM Confirm Commitment in Egypt

Tuesday, July 12, 2011
Eni S.p.A.

The Egyptian Prime Minister HE Essam Sharaf and Eni CEO Paolo Scaroni met today in Cairo confirming the commitment of Eni to Egypt, following the recent agreements.

The new activities will take place in the Western Desert, in the Mediterranean and in the Sinai, and will cover both exploration and development, through the drilling of additional wells and the acceleration of production from new discoveries.

With these additional activities, Eni's investment in Egypt in the years 2011 and 2012 will amount to approximately US $3 billion. Eni will also sponsor a training plan for national staff working in the Petrobel and Agiba joint ventures with EGPC. Furthermore, in accordance with the Ministry of Petroleum, Eni will support the Sinai community with social activities.

Eni is the first international operator in Egypt with total operated production of round 500 thousand boe/day.

Oil & Gas Post

Promote Your Page Too
LINK

Apache Strikes Multiple Pay in Egypt's Faghur Basin

- Apache Strikes Multiple Pay in Egypt's Faghur Basin

Thursday, June 16, 2011
Apache Corp.

Apache reported five new oil discoveries in its Faghur Basin play in the far southwest of Egypt's Western Desert oil and gas province.

Apache also said that the AG-96 development well in the Abu Gharadig Concession tested 3,347 barrels of oil and 1 million cubic feet (MMcf) of natural gas per day from the Lower Bahariya formation. The well – drilled on acreage acquired from BP in late 2010 – is expected to lead to several additional wells before year end.

The Faghur Basin discoveries included:

• West Kalabsha-I-4 logged 79 feet of net pay in the Jurassic Safa sands. In a test, the well flowed 7,150 barrels of oil per day and 11.4 million cubic feet (MMcf) of gas per day.
• Faghur North-1X logged 25 feet of net pay in the Safa and Paleozoic Desouqy sands. Combined tests had a rate of 1,444 barrels of oil and 3.9 MMcf of gas per day.
• Faghur South-1X logged 38 feet of net pay in Safa and Cretaceous AEB-6 sands. The Safa tested 2,768 barrels of oil and 4 MMcf of gas per day.
• Huni-1X logged 27 feet of net pay in the AEB-3 sands. The well tested 970 barrels per day from the AEB-3E sand.
• Neith North-1X logged 20 feet of net pay in the AEB-3 sands and 57 feet of net pay in the Safa sands. A Safa well test is planned this month.

"The Faghur Basin continues to be a successful focus area for Apache, with AEB, Safa, and now Paleozoic reservoirs that have proven to be prolific oil and gas producers. These recent discoveries support the multi-pay potential of this oil-prone area of the Western Desert," said Tom Voytovich, vice president of Apache's Egypt Region. "The Huni and Neith North discoveries continue Apache's recent exploration success in the eastern area of the Faghur Basin.

"These discoveries and production from the Tayim development lease approved during the revolution period illustrate the fact that Egypt's energy sector is continuing to move forward," Voytovich said. "Our recent drilling successes provide clear evidence of the exploration potential on Apache acreage in Egypt and the benefits of working in stacked-pay areas."

Apache recently drilled the first discovery on its westernmost exploration concession. The Siwa-D-1X drilled in the Siwa Concession pushed Jurassic and Cretaceous plays farther south and westward and will lead to follow-up exploration prospects. Apache expects to commence production from the well upon approval of a development plan later in 2011.

The Tayim West-1X discovery in the West Kalabsha Concession represents the first Paleozoic success found in a reservoir separate from the younger proven Jurassic and Cretaceous sands and opens up the area to further deep tests in upcoming wells. The discovery is currently on production.

Thus far in 2011, Apache has drilled eight new discoveries in 10 attempts in the Faghur Basin, and drilling is under way on three additional wells –Mandulis-1X, Neilos-1X and Faghur North-2X. Eight additional exploration wells are planned for the area this year.

Apache continues to evaluate 3-D seismic surveys to identify additional exploration opportunities, including a recently completed 400-square-mile (1,040 square kilometers) survey across the Apache-operated Sallum Concession on the west side of the basin, and a 656-square-mile (1,698 square kilometers) survey covering the eastern part of the basin underlying the Khalda Offset, South Umbarka and Shushan concessions.

Apache's current gross operated production in Egypt totals approximately 215,000 barrels of oil and 900 MMcf of gas per day, including 40,000 barrels of oil per day from the Faghur Basin.

Oil & Gas Post

Promote Your Page Too

Eni Commits to Additional Exploration, Development in Egypt

- Eni Commits to Additional Exploration, Development in Egypt

Tuesday, June 07, 2011
Eni S.p.A.

The Egyptian Minister of Petroleum Abdallah Ghorab and Eni COO Claudio Descalzi met in Cairo to support the renewed commitment of Eni towards exploration and development activities in Egypt, highlighting the importance of such commitment for both Egpc and Eni.

The additional activities will take place in the Western Desert, in the Mediterranean and in the Sinai, and will cover both development, through the drilling of additional wells and the acceleration of production from new discoveries, and exploration, by drilling 12 exploratory wells.

With these activities Eni's investments in Egypt for the current and subsequent years will amount to approximately US $3 billion. Eni will also sponsor a training plan for national staff working in the Petrobel and Agiba joint ventures with Egpc, with a commitment of US $4.5 million. Furthermore, in accordance with the Ministry of Petroleum, Eni will support the Sinai community with social activities.

Eni is the first international operator in Egypt with total operated production of round 500 thousand boe/day.

Oil & Gas Post

Promote Your Page Too

PTTEP Withdraws Stake in Egypt Well

PTTEP Withdraws Stake in Egypt Well

Wednesday, March 30, 2011
PTTEP

PTT Exploration and Production Public Company Limited (PTTEP) announced its subsidiary PTTEP Sidi Abd El Rahman has withdrawn the entire 30% participation interest from Sidi Abd El Rahman Offshore Project in the Arab Republic of Egypt after fulfillment of the exploration work commitment. The withdrawal will be fully effective upon receiving an official approval from the government of the Arab Republic of Egypt.

In addition, PTTEP would like to report the drilling result of an exploration well in Rommana project, which is an onshore block in the Arab Republic of Egypt. The joint ventures include Sipetrol International S.A. (Operator), PTTEP Rommana Co. Ltd. (a subsidiary of PTTEP), and Centrica Resources Ltd., which hold the participation interests of 40%, 30%, and 30%, respectively. The exploration well, Moon Sinai-1, was spudded on January 6, 2011. It was drilled to an approximate total depth of 1,440 meters without petroleum shows, therefore; the well will be written off within the accounting period of the first quarter 2011, with an approximate total cost to PTTEP of US $1 million.

Statoil Wraps Up Ops Offshore Egypt

Statoil Wraps Up Ops Offshore Egypt

Monday, March 28, 2011
Statoil
by  SubseaIQ

The Kiwi well in the Egypt's El Dabaa License (Block 9) was completed this week and the Discoverer Americas drillship will soon head back to the US Gulf of Mexico.

The exploration well targeted the Kiwi prospect in the El Dabaa license, located in the Mediterranean west of the Nile Delta, with a water depth of around 2,700 meters at the drill site.

Extensive logging has been performed in the well, and preliminary results show that the well is dry.

The offshore operations were completed safely and the results of the well will now be further evaluated and integrated into the understanding of the area before any new decisions about the acreage are made.

Statoil is the operator and holds 80% equity in the license. Sonatrach International Petroleum E&P, a wholly owned subsidiary of the Algerian state oil and gas company, holds the remaining 20%.