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Kuwait Energy makes two oil finds in Egypt

Exploration & Production

Kuwait Energy Company KSCC (Kuwait Energy) made two oil discoveries in the GPZZ-4 and Al Ahmadi-1 wells located in the Abu Sennan concession in the Western Desert, Egypt.

The Abu Sennan concession is operated by Kuwait Energy in which it holds a 50 per cent working interest with the remainder being held by Beach Energy Limited (22 per cent working interest) and Dover Petroleum (28 per cent working interest).

These two new discoveries bring the total number of discoveries since 2008 by Kuwait Energy in Egypt to 13.

The GPZZ-4 well was drilled first as part of a six-well drilling program in the Abu Sennan concession.  During initial drilling, hydrocarbon shows were found in the lower and upper Bahariya Formations, and the Abu Roash "G" Member.

The second well, Al Ahmadi-1, has also encountered hydrocarbon shows within the Kharita Formation, the lower Bahariya Formation, the Abu Roash "G" Member and the Abu Roash "E" Member.

Kuwait Energy Deputy Chairman and CEO, Sara Akbar said: "We have registered yet another success in Egypt with these discoveries.  Production testing on both wells is still ongoing to assess the volumes and commerciality of the hydrocarbon shows.  We look forward to encouraging results, as well as continued success in Egypt."