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Wednesday, January 3, 2024
United Oil & Gas provided an update on the ASD S-1X exploration well on the ASD South prospect in the Abu Sennan license, onshore Egypt, operated by partner Kuwait Energy Egypt.
The ASD S-1X exploration well commenced drilling on November 11 and reached a total depth of 3,450 meters on December 12, ahead of schedule and under budget.
Petrophysical analysis of logs indicated the presence of a total of 9.5 meters of net pay across the prospective section of the well, which included 6 meters of net pay within the primary Abu Roash C (AR-C) reservoir.
The well has now been completed as a single completion in the AR-C reservoir and successfully tested oil on four choke sizes with flow rates ranging from 1,134 bopd on the 24/64 choke up to 2,173 bopd on the 64/64 choke. The preliminary test flow rates for the AR-C reservoir are in line with pre-drill expectations.
Based on these test results, notice of a commercial discovery and an application for a development lease at ASD South will be soon submitted to Egypt General Petroleum Corporation by Kuwait Energy. Production is expected to commence shortly after approvals are granted and facilities are put in place.
United Chief Executive Officer, Brian Larkin commented: “We are pleased with the successful drilling of the ASD S-1X exploration well and these promising initial well test results. Whilst the initial flow test rates are very encouraging, we await well pressure data from further, long-term testing before we can determine the expected longer-term flow rates from this well and we will provide a further update in due course. This discovery opens a new area of the license, and the operator will now submit a notice of commercial discovery and an application for a development lease at ASD South. New production facilities will need to be built before the well enters production.
“Despite this success, it’s important to acknowledge the challenging macroeconomic conditions in Egypt and the persistent difficulty the Company faces in repatriating funds from the country. We remain committed to collaborating with our local Egyptian stakeholders, EGPC, and the operator KEE (Kuwait Energy Egypt) to navigate and address these challenges.”
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