M a r k e t N e w s
New Egyptian Discovery for Kuwait Energy
Posted on : Monday , 22nd December 2014
Kuwait Energy Co. (KEC) saw a discovery on the East Ras Qattara development lease in Egypt’s Western Desert. The discovery was made with the drilling of the Shahd-4 well in the Wadi El Natrun formation (Jurassic).
KEC holds a 49.5% revenue interest in the East Ras Qattara development lease, while the remaining 50.5% is held by Chile’s state-run ENAP’s international unit Sipetrol.
Tests of the Wadi El Natrun formation achieved flow rates of 1,275 bpd of condensate with 51 API and 2,400 bpd of condensate on a choke of 64/64 inches, as well as seeing gas flows.
“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.
Source : petroleum africa
