Centurion Petroleum Corporation has been selected for a 100 percent working interest contract to develop Egypt’s Oil Block 2 in the Kom Ombo Basin. Centurion has committed to spend two million dollars in the first two-year exploration phase, stated a press release.
Plans are to reprocess 1,000 kilomers of 2D seismic and re-enter and test the Kom Ombo-1 well, plus conduct additional geological and geochemical studies.
Block 2 is a rift basin analogous to the Muglad Basin in Sudan where major discoveries have been made. The block covers approximately 5.6 million acres with numerous seismically defined leads holding potential for significant oil reserves.
The Kom Ombo Basin area had some limited exploration activities carried out during the late 1990's. Of particular significance is the well Kom Ombo-1, which was drilled in 1997 and tested light oil at a depth of 8,150 feet from an Early Cretaceous good quality sandstone reservoir, indicating the presence of a petroleum system. In 1998, the Kom Ombo-2 exploration well encountered significant oil and gas shows in the same reservoir. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
