Kuwait Energy finds more oil in Egypt

Statoil platform26 August 2013, News Wires – Kuwait Energy has found more oil and gas in a new zone at its El Salmiya-2 well on the Abu Sennan concession in Egypt’s Western Desert.

Australia-based well partner Beach Energy said Monday that a drill stem test of the Kharita formation initially flowed at a rate of 3530 barrels of oil per day and 4.7 million cubic feet per day of gas.

The 42-degree API light crude yielded from the test is the first time oil has been encountered in the Kharita formation within the concession, Beach said, with previous production having been obtained from the shallower Bahariya and Abu Roash plays.

The Kharita oil column has been measured to a depth of 68 metres, equating to 49 metres true vertical depth.  According to the joint venture, the sandstone is of excellent quality with 56 metres of net pay.

Kuwait has estimated gross proven and probable reserves of 18.5 million barrels of oil and 142 billion cubic feet of gas in the Kharita play alone. However, Beach believes there is potential for further upside within both Kharita and the additional identified pay zones Abu Roash C, Abu Roash E and the Bahariya formation.

Kuwait operates the Abu Sennan concession with a 50% interest while Beach holds a 22% stake. Dover Investments holds the remaining 28% equity.

– Upstream

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