Kuwait Energy Company discovered two new oil discoveries in the East Ras Qattara (“ERQ”) concession located in Egypt’s Western Desert.
These discoveries brings the company’s total number of discoveries in Egypt, since 2008, to 11.
Kuwait Energy holds a 49.5 per cent participation interest share in the ERQ concession where Enap Sipetrol, a subsidiary of ENAP, a Chile-based oil and gas company, is the operator with a 50.5 per cent participation share.
The oil discoveries were made in the wells, Shebl-1 and Shebl East-1. Shebl-1 was drilled to a depth of 4,400 meters and initial tests showed a production flow of 600 barrels of oil per day (bpd). Shebl East-1 was drilled to a depth of 4,100 meters and initial tests showed a production flow of 1,500 bpd.
Kuwait Energy Deputy Chairman and Chief Executive Officer, Sara Akbar, said: “Eleven discoveries in Egypt over a three year period is very pleasing and I am looking forward to the results of our other 2011 exploration wells in Abu Sennan and Area A..”
Kuwait Energy participates in five concessions in Egypt (Area A, Abu Sennan, Burg El Arab, East Ras Qattara and Mesaha), holds interest shares ranging between 15 per cent and 75 per cent, and is the operator in three of the five concessions.
In addition to its Egyptian assets, Kuwait Energy’s portfolio includes oil and gas assets in: Iraq, Yemen and Oman
