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Sara Akbar... important discovery

Kuwait Energy finds new hydrocarbon site in Egypt

KUWAIT, December 17, 2014

Kuwait Energy, an independent oil and gas company, and its partner the Egyptian General Petroleum Corporation (EGPC), have announced the discovery of hydrocarbons on the East Ras Qattara development lease in Egypt.

The exploration well Shahd-4 is located in the Northern Western Desert onshore Egypt in the Wadi El Natrun formation (Jurassic) formation.

Kuwait Energy holds a 49.5 per cent revenue interest in the East Ras Qattara development lease, while the remaining 50.5 per cent is held by the operating company Sipetrol.

Tests of the Wadi El Natrun formation achieved flow rates of 1275 BBLS/D of condensate with 51 API and 12.5 MSCF/D of gas on choke 32/64 inches; and 2400 BBLS/D of condensate and 25 MMSCFD on choke 64/64 inches.

This is a very important discovery as this is the first time that the Jurassic formation is proven to be a hydrocarbon producer in the East Tiba Half Graben sedimentary basin, said Sara Akbar, CEO of Kuwait Energy.

“I am delighted to announce this discovery at the East Ras Qattara. This discovery would also allow for further diversification of our production in Egypt from oil, gas and condensates,” she added. – TradeArabia News Service




Tags: Egypt | Kuwait Energy | EGPC | hydrocarbons |

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