United Oil & Gas plc said that the ASX-1X exploration well encountered at least 10 metres net pay in a number of oil-bearing reservoirs in the Abu Sennan licence, onshore Egypt.
ASX-1X
Once the well has been completed and successfully tested, an application will be made to the Egyptian General Petroleum Corporation (EGPC) for a development lease.
The ASX-1X well, located 7km north of the producing Al Jahraa field, reached a total depth of 4,272m, several days ahead of schedule and under-budget.
Preliminary interpretations suggest the well encountered at least 10m net pay across a number of reservoir intervals, including the primary reservoir targets of the Abu Roash formation.
The ASX-1X well is the second exploration well to be drilled in 2021 on the Abu Sennan licence in which United holds a 22% interest.
2022 DRILL PROGRAMME
United said it had recently discussed an indicative drilling programme for 2022 and beyond with the operator Kuwait Energy Egypt.
“This programme will include development wells to maintain production and exploration wells that have the potential to deliver large reserve and production upside, starting with an initial programme of four wells in 2022.”
“Today’s announcement is the fourth positive well result from Abu Sennan in 2021,” added chief executive Brian Larkin.
“With the well testing set to begin shortly, we look forward to understanding the full potential of the ASX-1X well.
“Plans are continuing to progress on finalising the additional development well that has been added to the 2021 drilling programme.”
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