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Sunday, August 4, 2019
Soco International, in its latest operational update, commented on activities on the El Fayoum concession. The company said that a second rig was contracted after completion and arrived in June 2019. Drilling operations with the second rig have commenced and the first well was spud on July 16.
The company gained access to the El Fayoum concession when it acquired Merlon Petroleum El Fayoum. The acquisition was completed on April 2 of this year.
SOCO’s production guidance for the El Fayum concession continues to be a 2019 exit rate of 6,500 bpd.
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