Tuesday, April 14, 2020

WEPCO’s Production Reaches 3,500 bbl/d - EGYPT OIL & GAS

Tuesday, 14th April 2020

Western Desert Operating Petroleum Company’s (WEPCO) production has reached 3,500 barrels per day (bbl/d) after streamlining well Badr 4-6, according to a statement.

The new development well (Badr 4-6) has added about 500 bbl/d to the state-owned company’s production. Production has increased in the past five months by 1,500 bbl/d, bringing the total production from 2,000 bbl/d to 3,500 bbl/d.

It should be noted that WEPCO is fully operational with 100% of Egyptian youth cadres without foreign partners.

WEPCO adheres to the Minister of Petroleum and Mineral Resources, Tarek El Molla’s strategy to increase crude oil production by developing a rapid development plan for new discoveries and benefiting from the well’s existing infrastructure.

Monday, April 13, 2020

Coronavirus: Minister confirms long delay in Cyprus’ gas drilling - CYPRUS MAIL

April 13, 2020
Elias Hazou

Exxon Mobil have informed the government they will be delaying a planned drill in their block 10 concession in Cyprus’ Exclusive Economic Zone (EEZ), with other oil companies expected to do the same due to the ongoing coronavirus situation as well as the sharp drop in energy prices globally.

Energy Minister Giorgos Lakkotrypis confirmed that in recent days he was informed in writing by ExxonMobil that they have pushed back to September 2021 an appraisal (or follow-up) well at the site dubbed Glafcos in block 10.

The Glafcos reservoir, bearing an estimated 5 to 8 trillion cubic feet of gas, is the largest gas discovery to date in Cyprus’ EEZ. The appraisal drilling would have helped the company with its commercialisation decision.

The appraisal well there was initially scheduled for this summer.