Page 16 - AfrOil Week 44 2021

AfrOil NEWS IN BRIEF AfrOil

Zenith Energy announces south from the Meleiha oil centre.
UPSTREAM was made through SWM-4X well, located 35 km
Pharos Energy receives significant production feet (34.44 metres) of net hydrocarbon pay in
The Jasmine W-1X well encountered 113
cabinet approval of El uplift from ROB-1 well the Jurassic sandstones of the Khatatba forma-
tion with good petrophysical properties. The
Fayum amendment onshore Tunisia production test proved a production rate of
2,000 barrel per day (bpd) of light oil (49°API)
Pharos Energy has received Egyptian Cabi- Zenith Energy has announced that a flow rate and 7 mcf (198,200 cubic metres) of associated
net approval of the Third Amendment of its El of 124 barrels per day (bpd) of oil has been gas. Jasmine MWD-21 well encountered 51 feet
Fayum Concession Agreement. The approved recorded from the Robbana-1 (ROB-1), located (15.54) metres) of net oil column in Cretaceous
terms, already announced on March 30, 2021, within the Robbana concession in Tunisia, fol- sandstones of the Alam El Bueib formation, with
include both an increase of the cost recovery lowing the completion of a successful workover excellent petrophysical properties. It is already
petroleum percentage and an extension of the announced to the market by way of regulatory tied-in to production, with a stabilised rate of
exploration term of three and a half years. news on October 25, 2021. 2,500 bpd.
Ed Story, President and CEO, commented: The Company expects a stabilised rate of In South West Meleiha, the SWM-4X well
“We are delighted that the El Fayum Third production of approximately 100 bpd is to be encountered 36 feet (10.97 metres) of net oil
Amendment has been approved by the Egyp- achieved in the near-term once well production sand in Cretaceous sandstones of the Bahariya
tian Cabinet, which encourages investment into is optimised, representing a 500% increase in formation, with excellent petrophysical proper-
this Concession to increase production rates for production from ROB-1 over the previous daily ties. The production test proved an initial rate of
the mutual benefits of Egypt and Pharos and production rate of 20 bpd that had been recorded 1,800 bpd with 300,000 cubic feet (8,496 cubic
our partners. The enhancements enshrined in since the last workover performed in 2012. metres) per day.
the Third Amendment are set to deliver a lower Andrea Cattaneo, CEO of Zenith, com- Altogether, the new discoveries add more
break-even price per barrel and enhanced, earlier mented: “We are very pleased with the outcome than 6,000 barrels of equivalent oil per day
cash flow from the producing fields. Approval of of our inaugural operational engagement in (boepd) to Eni’s gross production. The new dis-
this Amendment will now move forward to its Tunisia. The workover of ROB-1 has been exe- coveries have potential for additional appraisal
final phase, ratification by the Parliament and cuted without incident and on-budget, enabling and production wells that will be immediately
signature of the President.” the Company to increase its daily net cumu- planned in order to sustain the Agiba produc-
The Prime Ministerial announcement stated lative production to a total of approximately tion plateau.
that, in its meeting on Thursday, October 28, the 650 boepd, the highest production rate in the Eni is continuing to pursue its successful near
Egyptian Cabinet approved amendments to the Company’s history. Zenith’s operational team is field and infrastructure-led exploration strategy
fiscal terms of five petroleum concession agree- already defining the next steps for drilling well in the Egyptian Western Desert through Agiba, a
ments, including El Fayum. These amendments ROB-3, as previously announced on June 10, joint venture between Eni and Egyptian General
are designed to encourage new investments in 2021, and we look forward to delivering further Petroleum Corporation (EGPC), which allows a
existing exploration and development areas, positive news on our progress in due course.” quick valorisation of these new resources.
aimed at maintaining and increasing produc- Zenith Energy, October 29 2021 Eni, through its subsidiary IEOC, holds a
tion rates and optimising resources, to the 76% of Contractor’s participating interest in
mutual benefit of Egypt and the international Eni announces new the Meleiha concession while Lukoil holds the
companies. remaining 24%. Both Companies are parties in
The El Fayum Third Amendment agreement, discoveries in Egypt’s this concession with EGPC and the Government
which includes an increase of the cost recovery of Egypt.
petroleum percentage and a three-and-a-half- Western Desert Eni, October 26 2021
year extension to the exploration licence term,
was approved by the Main Board of Egyptian Eni has announced new discoveries in Meleiha ReconAfrica completes
General Petroleum Corp. (EGPC) in March and South West Meleiha concessions, in the
2021. The Cabinet approval obtained on Thurs- Western Desert of Egypt. Preliminary estimates first seismic programme
day is a key milestone in the process towards of the resources associated to these new discov-
Parliamentary approval, before final Presidential eries are at 50mn boe of hydrocarbon in place. in Kavango Basin
ratification and signature of the Third Amend- The discoveries in the Meleiha develop-
ment by all relevant parties. ment lease were achieved through the Jasmine Reconnaissance Energy Africa (ReconAfrica)
The improved fiscal terms are backdated to W-1X and MWD-21 wells, while in South West and its joint venture partner NAMCOR (the
November 2020, increasing the contractor share Meleiha exploration concession the discovery state oil company of Namibia) have announced
of revenue from circa 42% to circa 50% and low- the completion of the first seismic acquisition
ering the development project break-even while programme ever conducted in the Kavango
in full cost recovery mode. Basin, in northeast Namibia.
Ratification of the El Fayum Third Amend- Seismic Operations: The seismic programme
ment is one of the condition precedents to the comprises 450 line-km of high quality 2D seis-
farm-out of a 55% share of Pharos’ interest in the mic data which was acquired within budget and
El Fayum Concession and the North Beni Suef on schedule. 150,000 human-hours were uti-
Concession to IPR, as announced on 15 Septem- lised during the campaign, of which 80% were
ber 2021. Namibian nationals recruited nationally and,
Pharos Energy, November 1 2021 predominantly, from local communities.

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