United Oil & Gas plc announced preliminary results from the ASD-1X exploration well suggested at least 22m net oil pay at its Abu Sennan concession onshore Egypt.
The results were across a number of reservoirs, including the Abu Roash C, Abu Roash E, Lower Bahariya and Kharita formations.
United, which holds a 22% working interest in the licence operated by Kuwait Energy Egypt (25%), said that completion of the wells and well testing was now planned.
If successful, an application will be made to Egyptian General Petroleum Corporation (EGPC) for a development lease over the new discovery.
The ASD-1X exploration well, located 12km northeast of the producing Al Jahraa field, safely reached total depth (TD) of 3,750m MD on 30 March, several days ahead of schedule and under budget.
The well was drilled by the EDC-50 rig which, after completion, will move to the Al Jahraa field within the Abu Sennan concession to start drilling of the AJ-8 development well.
This well will target the Abu Roash and Bahariya reservoirs in an undrained portion of the Al Jahraa field.
United’s chief executive Brian Larkin said that the preliminary results from Abu Sennan were in line with pre-drill estimates.
“With the well testing set to begin shortly, we look forward to understanding the full potential of the ASD-1X well.
“A number of additional targets and leads have been identified within the Abu Sennan concession and the results of ASD-1X and other recent wells will better inform our understanding of the acreage.
“We will continue to work with our JV partners to prioritise these opportunities which can ultimately be brought into production in short time frames.”
The Abu Sennan concession lies in the hydrocarbon-producing Western Desert region of onshore Egypt, and comprises seven development concessions, each containing a producing field, as well as a 644km2 exploration licence.
JOINT VENTURE
In early 2020, United Oil & Gas completed the acquisition of Rockhopper Egypt Pty which included a 22% non-operating interest in the Abu Sennan concession.
Other joint venture partners include Global Connect Ltd (25%) and Dover Investments (28%) the other partners in the joint venture.