Vega Sees Success with EGZ-1X Testing

Monday, November 28, 2016

Vega Petroleum, based in the UK, saw success with the testing of the EGZ-1X well on Egypt’s Gabal El Zeit concession in the Gulf of Suez area. The tests results yielded estimated production rates of 1,000 bpd of crude and 1 Mcf/d of natural gas.

The company said that estimated reserves are about 250 million barrels, although that number is subject to an increase.

The Gabal El Zeit area is located near Vega-operated production facilities at its Ras El Esh field.

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