United Oil & Gas plc expects initial testing to be completed at the ASH-3 well ahead of being brought onstream at the joint venture Abu Sennan concession, onshore Egypt.
PRODUCTION
The company added that the well encountered 27.5m of net pay interpreted over a 59m gross section in the targeted Alem El Buieb (AEB) reservoir.
The ASH-3 development well was drilled in January 2020 and reached a target depth of 4,087 metres in February, ahead of schedule and under budget.
United added that the well, which was drilled as a step-out development well in the ASH Field, would deliver a further uplift to production.
ASD-1X
Rig ED-50 will then move to the north of the licence, close to the producing Al Jahraa field, to start drilling the ASD-1X exploration well.
ASD-1X is targeting the Abu Roash reservoirs in the four-way dip-closed Prospect D structure, and, if successful, could be brought into production.
POTENTIAL
Chief executive Brian Larkin said that significant further potential existed within the licence.
“We are very encouraged with the initial results of the ASH 3 well and we are delighted that it has been delivered safely, ahead of schedule and under budget by our licence partners.
“We anticipate the well will deliver a further uplift to our low-cost production base, an encouraging result ahead of the spudding of our forthcoming exploration well and the remainder of our 2021 work, all of which is fully funded from operating cash flow.”
He added that the ASH field had to date produced close to two million barrels of oil, with current production at more than 5,000 boepd.
United holds a 22% non-operating interest in Abu Sennan, which is operated by Kuwait Energy Egypt.