Kuwait Energy unit sees rise in production
Kuwait, June 30, 2013
Kuwait Energy, a major oil and gas exploration and production firm, has announced a production increase at its East Ras Qattara (ERQ) Concession in Egypt, in which it holds a 49.5 per cent interest.
The announcement was made with Kuwait Energy’s main partner, the Egyptian General Petroleum Corporation (EGPC).
Following the completion of drilling of the Shahd South East-06 development well at the ERQ concession, an initial net production rate for the well of 4,800 barrels of oil per day (bopd) was recorded. This increased the average net field production for ERQ to around 21,000 bopd.
Located in the Western Desert, Egypt, ERQ is Kuwait Energy’s largest producing oil asset. The concession has two wells under development and 16 producing wells.
Mohammad Al-Howqal, chief operations officer of Kuwait Energy, said: “We are delighted with the continued success of East Ras Qattara. Following the successful Shahd-3 development well in April and now Shahd South East-06, ERQ has become the Company’s largest production asset and with two further development wells being drilled, there is potential for more to come.”
Kuwait Energy holds a 49.5 per cent working interest in the East Ras Qattara concession. The remaining working interest is held by Sipetrol, who is also the operator of the concession. – TradeArabia News Service