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.