Friday, December 23, 2016

TransGlobe’s Egyptian assets to reach oil production targets - ECOFIN AGENCY

Friday, 23 December 2016 - 16:06
Anita Fatunji

(Ecofin Agency) - Canadian-based TransGlobe Energy in its update on Egyptian assets for the fourth and last quarter in 2016, announced that the North West Gharib (NWG) development plan for the NWG 3, NWG 16 and NWG 38 area was approved in early December.

The company said it completed the NWG 3 Early Production Facility (EPF) in mid-December and targets first production from NWG 3 at an estimated preliminary rate of 500 to 700bpd while the adjacent NWG 38 discovery well’s pipeline has been connected to the EPF and is expected to begin production before 2016 year-end.

TransGlobe drilled a further five wells which brought about one development oil well (Arta 73) and four dry holes, which are NWG 34 and 32, in addition to SWG 3 and SWG 1. Arta 73 was drilled to a total depth of 4,080 feet and come across 100 feet of gross reservoir with 75 feet net oil pay in the Arta Red Bed pool. Initial production is expected by early January.

At present, one rig is drilling an exploration well at SWG 2 while a second drilling rig is moving on to the Arta 74 for the second of the two planned Red Bed wells in the Arta field, Egypt Oil & Gas news reports.

According to TransGlobe, military access approvals for the South Alamein concession was received in September 2016 and it is finalizing an initial drilling program targeting the Boraq area of the concession. The drilling campaign will involve 1 well on the Boraq structural complex in addition to re-entering the Boraq 2 discovery well for further testing.

The Canadian company intends to commence operations in January 2017 and successful appraisal wells could result in the filing of a Boraq development plan as early as Q2 of 2017 with first production targeted before 2017 ending.