Page 15 - AfrOil Week 39 2021

AfrOil NEWS IN BRIEF AfrOil

UPSTREAM
TransGlobe Energy issues

operations update

TransGlobe Energy has announced an update on
its operations in Egypt.
Company Production: Compared to
Q2-2021, during the current quarter to date,
natural production declines in Egypt were more
than offset by well optimisation activities and
new drilling.
Arab Republic of Egypt, Eastern Desert
(100% WI): The Company continues to utilise
the EDC-64 rig drilling development oil wells. In Corporate: The Mercuria Prepayment The Ministry of Mines and Energy of
West Bakr, during the quarter, the Company suc- Agreement was fully repaid during the quarter Namibia is the State’s lead agency in attracting
cessfully drilled two development oil wells and is with the final $10mn being paid in August 2021. private investment in resources exploration and
moving on to a third well, K-66, at quarter-end. The Agreement has been amended to $10mn development through the provision of geo-sci-
The K-62 development well was drilled to a (undrawn) and extended to December 31, 2021, entific information on minerals and energy
total depth of 1,473 metres, and encountered to coincide with the expiry of our remaining resources, and management of an equitable and
oil-bearing sands in the Asl-A formation. The Brent crude oil hedges of 150,000 barrels. secure titles systems for the mining, petroleum
reservoir section has been fully logged and eval- The Company expects the ratification of the and geothermal industries. It also carries prime
uated, with an internally estimated 24.2 metres consolidated and amended Eastern Desert Pro- responsibility for regulating these extractive
of net oil pay in the Asl-A reservoirs. The Asl-A2 duction-Sharing Contracts to occur in the next industries and ensuring that safety, health and
was completed for oil production. quarter. environmental standards are consistent with the
The second well in West Bakr, K-65, was CEO’s Statement: “We are pleased with the relevant State and Commonwealth legislation,
drilled to a total depth of 1,730 metres, and progress of the Egypt drilling programme, regulations and policies.
encountered oil-bearing sands in the Asl-A, Asl- reversing 2020 declines and now increasing pro- ESG: In addition to the four solar powered
B, Asl-C, Asl-D and Asl-E formations. The reser- duction. The Company eagerly awaits the results community water wells previously drilled,
voir section has been fully logged and evaluated, from the new South Harmattan wells in Canada, ReconAfrica, working with local and state water
with an internally estimated 10.6 metres of net and is also excited by the prospect that with the authorities, has now drilled and completed four
oil pay in the Asl-A sand, 12.5 metres of net oil Egyptian parliament beginning its fall session more solar powered water wells in rural areas of
pay across the Asl-B sand, 6.1 metres of net oil in early October, ratification of our transforma- the Kavango East region in which the Company
pay across the Asl-C sand, 5.5 metres of net oil tional PSC consolidation will occur shortly.” operates.
pay across the Asl-D sand and 11.4 metres of net Transglobe Energy, September 29 2021 The Company’s Namibian water well drilling
oil pay in the Asl-E sand (total net oil pay 46.1 and installation contractors, Aqua Drilling and
metres). The Asl-E is expected to be completed ReconAfrica granted one- Leben Technical Services have now commenced
for production in this well. The Asl-A, Asl-B, drilling four more community water wells in the
Asl-C, and Asl-D are expected to be recovered year extension of the first Kavango West region in which ReconAfrica also
through future recompletions of this well. operates.
The Company drilled one well in North West renewal period for PEL 73 ReconAfrica continues its commitment to
Gharib, NWG-3B-2, to a total depth of 1,627 local hiring, with over 300 Namibian residents
metres to assess Red Bed potential in the north- Reconnaissance Energy Africa (ReconAfrica) which have been employed to date. The Com-
ern area of our development leases. The well and its joint venture partner NAMCOR (the pany has a strong commitment to gender diver-
encountered Red Bed sands which were wet. state oil company of Namibia) have announced sity and continues to increase the number of
The results are under evaluation to identify any that the Ministry of Mines and Energy (MME) women hired locally.
up-dip sidetrack potential. has granted approval of a one year extension on ReconAfrica, September 23 2021
Western Desert (100% WI): The lower Baha- the First Renewal Period from January 29, 2022,
riya reservoir at SGZ-6X continues to produce to January 29, 2023, relating to the approximately
on Gas Oil Ratio (“GOR”) control at a field esti- 6.3-mn acre (25,500-square km) PEL 73 explora- DOWNSTREAM
mated 680 Bopd of light oil with a 46% watercut. tion licence, due to the impacts of the COVID-19
With improved oil prices and spare capacity pandemic on the Company’s operations. Angolan minister says
available in the South Ghazalat early production Scot Evans, ReconAfrica CEO, said: “I
facility, the Company has accelerated drilling appreciate the MME recognising the challenges construction of Oceanic
of an oil exploration well on the SGZ-7B pros- COVID-19 has had on our operations by grant-
pect to the east of SGZ-6X. The well will target ing the extension to the First Renewal Period. I Terminal officially underway
light oil in the Bahariya reservoir and fulfills our would also like to take the opportunity to recog-
commitments to EGPC as part of the grant to nise the efforts of the ReconAfrica team in adapt- Angolan Minister of Mineral Resources, Oil and
the Company of a 10-block development lease ing and minimising the impacts the COVID-19 Gas Diamantino Azevedo officially inaugurated
in 2019. The Company anticipates spudding this pandemic has had on the people of Namibia and the construction of the Oceanic Terminal on
well in early Q4-2021. our operations.” September 21.

Week 39 29•September•2021 www. NEWSBASE .com P15