Kuwait Energy Makes GoS Discovery

Kuwait Energy Co. (KEC) saw a new oil discovery with the drilling of the Ahmad-2 well, on the Area A license in the Gulf of Suez, adjacent to the Shukheir North West field.

The Ahmad-2 well encountered oil in the Rudeis formation for the first time in the Shukheir North West field and Ahmad area, and initial tests showed a production flow rate of 1,300 bpd of oil.

This was KEC’s fifth exploration success in the Area A concession, and its 19th discovery in Egypt since 2008.

KEC is the operator of the Area A license under a service agreement with EGPC. The company holds a 70% working interest and the remaining 30% is held by Petrogas E&P, out of Oman.

Kuwait Energy’s CEO, Sara Akbar, said, “We are delighted to announce yet another exploration success at the Area A concession, which follows the discovery of the West Ahmad-1X well earlier this year. Area A is now our largest producing oil asset in Egypt and we look forward to more successes.”