Page 14 - AfrOil Week 07 2020

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NEWS IN BRIEF
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To fully produce the 71 bcf gross P50 unrisked resource targeted in the Salah well, two further development wells would likely be required. e 33 bcf (935 mcm) gross P50 unrisked resource targeted in the Sobhi well, would potentially only require one further development well.
Mark Reid, CEO of SDX, commented: “Salah and Sohbi are very exciting wells for the Com- pany, with the potential to more than double the reserves to be processed through the South Disouq gas processing facilities. We now have three rigs drilling simultaneously in Egypt and Morocco, and I look forward to providing fur- ther updates on these campaigns in due course.” SDX Energy, February 14 2020
Wintershall Dea signs concession agreement for East Damanhour exploration block
On the eve of the Egypt Petroleum Show 2020 (EGYPS 2020), Wintershall Dea and Egyptian Minister of Petroleum Tarek El Molla have signed the concession agreement for the East Damanhour block. e block is located to the west of Wintershall Dea’s Disouq development in the onshore Nile Delta. During a rst explo- ration phase of three years, starting in 2020, Wintershall Dea is planning to drill several exploration wells.
“We are excited to get back into exploration in Egypt,” says Wintershall Dea CEO Mario Mehren. “Wintershall Dea has a 45-year history in Egypt. Alongside recent investments in our operated projects at Disouq and in the Gulf of Suez, our exploration plans are a further sign of our commitment to the country.”
Wintershall Dea, through its predecessor Dea, started operations in Egypt in 1974. e country is a core area for the company. It pro- duces gas at Disouq in the onshore Nile Delta, gas and oil in the Gulf of Suez, and gas and con- densate from the o shore West Nile Delta pro- ject, operated by BP. In recent years Wintershall Dea has invested signi cantly in its operated projects in Egypt. Comprehensive work pro- grams at Disouq and in the Gulf of Suez have led to a signi cant improvement of production, as well as maintaining asset integrity in the mature Gulf of Suez sites.
Wintershall Dea will now begin a three- year exploration phase in the East Damanhour block. Sameh Sabry, Wintershall Dea’s Managing Director for Egypt, says: “Over the years, we have developed extensive knowledge and experience in this area. is, and the block’s proximity to our existing Disouq infrastructure, means that we are well placed for a quick and cost optimised
development of any discovered volumes.” Wintershall Dea sees a strong future for the E&P sector in Egypt. “EGYPS 2020 comes at an exciting time for the industry in Egypt,” says Mehren. “Great potential is seen in the Eastern Mediterranean region when it comes to undiscovered gas resources. It’s an inter- esting region and Egypt is well-positioned to serve as an Energy Hub due to its established export facilities, which o er convenient export routes. Wintershall Dea is close to these devel- opments, among others as an active member of the East Med Gas Forum’s Industry Advisory
Committee.”
e East Damanhour block was awarded as
part of the Egyptian Natural Gas Holding Com- pany (EGAS) 2018 International Bid Round. Wintershall Dea, February 13 2020
Neptune Energy signs
operated exploration
licence for Gulf of Suez
Neptune Energy today signed an operated explo- ration licence with the Egyptian General Petro- leum Corporation (EGPC) for Egypt’s North West El Amal O shore Concession, underlin- ing the company’s commitment to growing its presence in North Africa, an important region for the business.
Neptune will acquire 100 square km of 3D seismic data and drill one exploration well in the rst phase, with two further wells planned in phase two.
e North West El Amal O shore conces- sion covers 365 square km and is located in the central part of the Gulf of Suez, approximately 42 km south of Ras Gharib and 105 km north
of Hurghada.
Neptune CEO Jim House said: “Our strat-
egy is to invest and grow our presence in Egypt, which is an important market for Neptune. We are committed to strengthening our presence in North Africa through exploration and produc- tion activities. is is another important step for Neptune in the region, and we’re pleased to build on our strong relationships with our partners and with the Ministry.”
Egypt Managing Director Gamal Kassem added: “ e Gulf of Suez provides many prom- ising prospects and we look forward to working closely with EGPC to grow Neptune’s business in Egypt.”
Neptune Energy, February 12 2020
Zenith Energy announces potential acquisition of major production asset in West Africa
Zenith Energy has entered into nal-stage nego- tiations with a national oil authority to secure a material oil production license in West Afriaro- und e Potential Acquisition, formerly oper- ated by a major international oil company, last produced at a rate in excess of 1,000 barrels per day of oil.
Following extensive due diligence, the Company believes an initial production rate of approximately 1,000 bpd of oil can be achieved via a rehabilitation programme, the costs of which Zenith expects will be repaid within a timeframe of 2-3 months once production has successfully been restored using a conservative oil price benchmark of $40 per barrel.
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Week 07 19•February•2020