Petroleum Africa
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Tuesday, May 3, 2016
Circle Oil issued its 2015 year-end reserves and resources assessment. The company contracted LR Senergy to provide the evaluation for its reserves and resources in Morocco and Egypt.
In Egypt, the net Circle 2P reserves for the NW Gemsa field as at 2015 year-end are 6.671MMboe. Although this figure is lower than the 2014 year-end 2P figure of 12.49 MMboe, a further 1.626 MMboe has been re-categorized as P50 Unrisked Contingent Resources as at 2015 year-end. There was also net field production of 1.295 MMboe during 2015.
In Morocco, the net Circle 2P reserves for the Sebou Permit as at year-end 2015 are 0.980M Mboe. This figure is lower than the 2014 year-end 2P figure of 3.74 MMboe. Additionally, the P50 Unrisked Contingent Resources as at 2015 year-end are a further 1.183 MMboe. There was net field production of 0.276 MMboe during 2015.
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