Kuwait Energy announces flow rates from Abu Sennan discoveries in Egypt

Kuwait Energy Company KSCC, one of the fastest growing independent oil and gas exploration and production companies in the Middle East, today announced that initial tests on its recent Egyptian discoveries on the GPZZ-4 and Al Ahmadi-1 wells, revealed flows of gas and condensate.

The wells are located in the Abu Sennan concession in the Egyptian Western Desert. The concession is operated by Kuwait Energy, which holds a 50% working interest in the concession. The remaining 50% is held by Beach Energy Limited with a 22% working interest and Dover Petroleum with a 28% working interest.

The GPZZ-4 well was drilled first as part of a six-well drilling program in the Abu Sennan concession. Initial tests from the Lower Bahariya formation recorded a daily production flow rate of 847 barrels (bbls) of condensate and seven millionstandard cubic feet (mmscf) of gas per day. The GPZZ-4 total production flow rate from the Lower Bahariya is equivalent to approximately 2,000 barrels of oil equivalent per day (boepd). Additionally, in this well a combined test from the Abu RoashGand Upper Bahariya formation produced at initial rates of 151 bblsof condensate and 1.6 mmscf per day.

The Al Ahmadi-1 well showed a daily production flow from the Abu Roach Gof 800 bbls of condensate and 13.5 mmscf of gas, a total production flow rate equivalent to approximately 2,900 boepd. This well also tested the Lower Bahariya formation with production of 72 bbls of condensate and 1 million standard cubic feet per day.

Kuwait Energy Chief Operations Officer, Mohammed Al-Howqal said: “These two discoveries are the first gas and condensate discoveries for Kuwait Energy in Egypt, as well as the first in the promising Abu Sennan concession. Our next steps will be to submit a comprehensive field development plan, declare commerciality and establish a new joint venture company with the Egyptian General Petroleum Corporation (EGPC).”