Beach Spotlights Discoveries in Egyptian Abu Sennan Concession

- Beach Spotlights Discoveries in Egyptian Abu Sennan Concession

Wednesday, August 24, 2011
Beach Energy Ltd.

Beach announced discoveries from its two wells in the Egyptian Abu Sennan concession, with production testing on both wells continuing to assess volumes and commerciality. It is expected that there will be an expeditious tie-in of the wells due to the location of the wells being within 10 kilometers of existing pipeline infrastructure. Details regarding the outcomes of the flow testing from the wells will be advised in due course.

GPZZ-4 was drilled as the first well of a six-well program in the Abu Sennan concession. During initial drilling, hydrocarbon shows were found in the lower and upper Bahariya Formations, and the Abu Roash "G" Member. An extensive testing program of these formations is currently underway.

The second well, Al Ahmadi-1, has also encountered hydrocarbon shows within the Kharita Formation, the lower Bahariya Formation, the Abu Roash "G" Member and the Abu Roash "E" Member. Hydrocarbon zones highlighted by the wireline logging and testing will be followed up with a significant cased hole testing program.

Beach Managing Director, Mr Reg Nelson said, "This is a fantastic result for Beach's International operations and is a credit to the team that identified the potential of this permit in Egypt's Western Desert. We have mentioned on a number of occasions that in order to grow reserves and production, one has to look beyond its own shores, hence why we strategically identified and invested in countries such as Egypt. These discoveries at Abu Sennan justify this strategy and we firmly believe that there will be further success in the not too distant future."

The Joint Venture equity interests in Abu Sennan are:

• Beach (via wholly owned subsidiary Beach Petroleum (Egypt) Limited) - 22%
• Kuwait Energy - 50% and Operator
• Dover Petroleum - 28%

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

Circle Oil Notes Drilling Preps at Egyptian Well

Circle Oil Notes Drilling Preps at Egyptian Well

Tuesday, April 19, 2011
Circle Oil plc

Circle Oil announced an update regarding the Geyad-3C appraisal/development well together with details on the future development of the NW Gemsa Concession.

Geyad-3C Update

Geyad-3C, located to the south-east of the Geyad-1X ST well in the Geyad Development Lease, is planned to be drilled to a total depth ("TD") of 5,911 ft measured depth ("MD") in the Upper Rudeis. The well is currently rigging up and preparing to commence drilling. The main objective for this well is to appraise and bring into production the oil bearing Shagar and Rahmi sandstones of the Kareem Formation. In the Geyad-1X ST well both zones were tested in May 2009 at a combined sustained rate of 2,809 bopd and 3.04 MMscf/d of gas from the Rahmi sandstones on a 64/64" choke and the well was put on production. In Geyad-2 ST, the Shagar sands were tested at a sustained rate of 3,850 bopd and 4.62 MMscf/d of gas on a 48/64" choke and the well was put on production. Secondary objectives of the Geyad 3-C well are to penetrate and evaluate the hydrocarbon potential of the overlying South Gharib and Belayim formations.

NW Gemsa Concession

Following the drilling of Geyad-3C, further intensive exploration, appraisal and development drilling is planned over the next eighteen months. A program of water injection wells will be drilled, as required, to support oil production in both the Al Amir SE and Geyad fields.

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).