Kuwait Energy has tested the ASH-3 well in Egypt at 6,379 barrels per day of oil and 6.7 million cubic feet per day of gas.
United Oil & Gas expects production to rise slightly in 2021, while capital expenditure will double primarily as a result of drilling two wells in Egypt.
Kuwait Energy Egypt has begun drilling the ASH-3 well, in Egypt’s Abu Sennan licence, with work expected to take around 60 days.
Kuwait Energy has signed up a drilling rig for work on the Abu Sennan concession and is making progress on the ASH-2 pipeline.
United Oil & Gas (UOG) has increased its net production from Egypt’s Abu Sennan concession by 69%, while also reporting a reserve boost.
Testing of Egypt’s El Salmiyah-5 has seen the well flow at rates of around 8,700 barrels of oil equivalent per day, United Oil & Gas has reported.
A pipeline has been completed at the Al Jahraa field, in Egypt, allowing gas sales to begin and eliminating flaring, United Oil & Gas has reported.
United Oil & Gas’ purchase of Rockhopper Exploration’s stake in Egypt’s Abu Sennan licence has been pushed back, but the results from a recent well make clear the rationale behind the deal.
Drilling is pressing ahead in Egypt for small producers, such as TransGlobe Energy and Rockhopper Exploration.
United Oil & Gas has returned to trading on London’s Alternative Investment Market (AIM) and is nearing completion of its acquisition of a stake in Egypt’s Abu Sennan licence.
The chief executive of United Oil and Gas (UOG) has said there is potential for more sales of its North Sea portfolio.