United Oil and Gas (UOG) Company announced that Abu Sennan Concession gross production increased to 12,347 barrels of equivalents per day (bbloe/d) representing net production of 2,716 bbloe/d during H1 2020, according to a statement by the company.
The company added that net the production has reached to 1,709 bbloe/d in the first of March and jumped to a high of 3,142 bbloe/d in early June during the testing of El Salmiyah-5 (ES-5 ) well. Liekwise, the performance of Abu Sennan Concession have achieved exceptional results since the beginning of 2020.
UOG noted that after completion of ES-5 well’s testing program, the well was producing 2,900 barrels of oil per day (bbl/d) and 9 million standard cubic feet (mmscf/d) on a controlled rate at the end of June. Regarding ASH 2 well, its net production reached 660 bbl/d.
The company added that net the production has reached to 1,709 bbloe/d in the first of March and jumped to a high of 3,142 bbloe/d in early June during the testing of El Salmiyah-5 (ES-5 ) well. Liekwise, the performance of Abu Sennan Concession have achieved exceptional results since the beginning of 2020.
UOG noted that after completion of ES-5 well’s testing program, the well was producing 2,900 barrels of oil per day (bbl/d) and 9 million standard cubic feet (mmscf/d) on a controlled rate at the end of June. Regarding ASH 2 well, its net production reached 660 bbl/d.
The company elaborated that the production was increased as a result of successful drilling, development of infrastructure in addition to completing low capital expenditure gas pipeline project at Al Jahraa which led to additional gas production and flaring reduction.
For his part, Brian Larkin, CEO of UOG, said that “2020 has been successful for United, with integration of the Egypt assets which are delivering low cost, sustained production, material reserves growth and positive operating cash flow.”
UOG announced in March that it has completed the acquisition of Rockhopper Egypt the company.
Furthermore, the Independent reserves report by Gaffney Cline and Associates mentioned significant improvements of reserves at Abu Sennan. It stated that Abu Senna 2P reserves increased 12.5% to 13.5 million barrels of oil equivalent (mmboe) (15% gas) versus 12 mmboe at the end of 2019. It also said that the gross 1P reserves rose by 76% to 4.2 mmboe and gross 3P reserves increased by 46% to 28.6 mmboe from 2.4 mmboe and 19.6 mmboe respectively at the beginning of 2019, in addition to 0.73 mmboe gross 2C contingent resource.
The company pointed that these reserves did not include the successful El Salmiyah- 5 well and expects additional reserves from this well in 2020 report.
Moreover, UOG is looking forward to developing ASH-3 well in late 2020/early 2021, adding that it expects flaring reduction after installing gas pipeline at the ASH field delivering 1.5 mmscf/d of gas. The company stated that it is making discussions with Abu Sennan joint venture partners for further development and exploration.
SOURCE
For his part, Brian Larkin, CEO of UOG, said that “2020 has been successful for United, with integration of the Egypt assets which are delivering low cost, sustained production, material reserves growth and positive operating cash flow.”
UOG announced in March that it has completed the acquisition of Rockhopper Egypt the company.
Furthermore, the Independent reserves report by Gaffney Cline and Associates mentioned significant improvements of reserves at Abu Sennan. It stated that Abu Senna 2P reserves increased 12.5% to 13.5 million barrels of oil equivalent (mmboe) (15% gas) versus 12 mmboe at the end of 2019. It also said that the gross 1P reserves rose by 76% to 4.2 mmboe and gross 3P reserves increased by 46% to 28.6 mmboe from 2.4 mmboe and 19.6 mmboe respectively at the beginning of 2019, in addition to 0.73 mmboe gross 2C contingent resource.
The company pointed that these reserves did not include the successful El Salmiyah- 5 well and expects additional reserves from this well in 2020 report.
Moreover, UOG is looking forward to developing ASH-3 well in late 2020/early 2021, adding that it expects flaring reduction after installing gas pipeline at the ASH field delivering 1.5 mmscf/d of gas. The company stated that it is making discussions with Abu Sennan joint venture partners for further development and exploration.
SOURCE
