Petroleum Africa
Find us on: 
Friday, August 14, 2015
TransGlobe Energy Corp. saw its Q2 total production average 15,064 bpd of oil, a slight increase from the previous quarter’s average of 14,886 bpd.
The company completed its second direct sale of Egyptian crude production to a third party buyer in early-April and payment was received in full in early-May. The next lifting is scheduled for late-September and the company is in discussions with EGPC regarding liftings in Q4 and 2016. TransGlobe said this change in how its crude is sold significantly reduces its credit risk exposure going forward.
The company completed a couple of seismic activities over the quarter. In the Eastern Desert it completed the processing of seismic data and mapping/interpretation is ongoing. In the Western Desert TransGlobe completed the acquisition of 400 sq km of 3D seismic on the South Ghazalat concession. It is expected that this seismic data will be processed and available for mapping by the fourth quarter.
On the drilling end TransGlobe drilled no wells in Q2 in the Eastern and Western Deserts and budgeted for either areas during the remainder of 2015.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
