United Oil & Gas plc’s revenue fell and capital expenditure rose from mixed results in a “challenging year” at its Abu Sennan interests, onshore Egypt. FINANCES The company holds a 22% working interest in the licence which is operated by Kuwait Energy Egypt. Audited results for the year ended 31 December 2022 show revenue of […]
Tag: United Oil & Gas plc
United extends sale date for Maria discovery
United Oil & Gas plc has extended the long stop date over the conditional sale of its licence P2519 containing the Maria oil discovery in the Central North Sea. SALES AGREEMENTS In January 2023, the company signed the £5.7 million asset purchase agreement (ASA), dependent on financing, with Quattro Energy Ltd for conditions to be […]
United spuds ASD-3 and notes strong ASH-8 performance
United Oil & Gas plc has spud the ASD-3 development well on the joint venture Abu Sennan licence, onshore Egypt. ASD-3 The company holds a 22% non-operating interest in the licence, which is operated by Kuwait Energy Egypt. ASD-3 will be drilled to approximately 1.2km to the north-west of the ASD-2 well which was drilled […]
United starts early production from ASH-8
United Oil and Gas plc has started production six weeks before the anticipated date from the ASH-8 development well in the Abu Sennan joint venture (JV) licence, onshore Egypt. ASH-8 The well is the JV’s first in its 2023 campaign and the fifth well in the ASH field, with production through existing ASH facilities. ASH-8 […]
United to bring ASH-8 on stream at Abu Sennan
United Oil & Gas plc expects to bring the ASH-8 development well on stream after interpreting 22 metres of net oil pay in the primary reservoir target on the Abu Sennan licence, onshore Egypt. ASH-8 The well is the company’s first in its 2023 campaign and will start production through the existing ASH facilities on […]
United signs £5.7m deal for Maria discovery
United Oil & Gas plc has started a second attempt to sell to Quattro Energy Ltd licence P2519 containing the Maria oil discovery within block 15/18e in the UK Central North Sea. QUATTRO ENERGY The company signed a binding asset purchase agreement (APA) to sell the licence for up to £5.7m, which is a higher price […]