Kuwait Energy makes new oil discovery in Egypt
Kuwait, August 28, 2013
Kuwait Energy, a top independent oil and gas exploration and production company, has announced an oil discovery at its El Salmiya-2 well, located in its Abu Sennan concession in the Western Desert, Egypt.
Kuwait Energy is the operator of the Abu Sennan concession and holds a 50 per cent working interest. The remaining working interest is held by Beach Petroleum (Egypt) which holds a 22 per cent working interest, and Dover Investments with a 28 per cent working interest with their main partner the Egyptian General Petroleum Corporation (EGPC).
The El Salmiya-2 well encountered oil in Kharita Formation and initial tests showed a production flow rate of 3,530 barrels of oil per day (bopd). This is the sixth exploration success in the Abu Sennan concession and the twenty first discovery in Egypt for Kuwait Energy since 2008.
“I am very happy to announce another successful oil discovery in Egypt which we anticipate will contribute positively to both the Company’s production and reserve levels,” said Sara Akbar, Kuwait Energy’s chief executive officer.
“Our operations continue to flourish in Egypt, we enjoy a close working relationship with the EGPC and we are delighted to play our part in helping Egypt satisfy its domestic energy demand.”
Kuwait Energy started operating in Egypt in 2008, where it operates three oil blocks: the Abu Sennan concession, Area A and the Burg El Arab development lease. – TradeArabia News Service