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UPSTREAM
Eni announces new

oil discovery and new
production in South-West

Meleiha Concession in

Egypt’s Western Desert

Eni announces the successful drilling of the
SWM-A-6X well, in the South-West Meleiha
development and exploration concession located
in the Egyptian Western Desert, some 130 km
north of the of Siwa Oasis. The new well has been
drilled close to existing production facilities and
is already connected to the production network.
The production from South West Meleiha of oil, with a geological chance of success of Cretaceous turbidites. Both Alpha and Gamma
Concession began in July 2019 and in just one 17%. Global’s estimate, classified in accord- are interpreted to be giant four-way dip clo-
year ramped up to 12,000 bpd thanks to the con- ance with the Society of Petroleum Engineers’ sured structures with billion-barrel potential
tribution of new discoveries. Petroleum Resources Management System, is analogous to Welwitschia. The Dolphin Gra-
The SWM-A-6X well, drilled in the Faghur based on a reinterpretation of existing 3D data ben Leads A, B, C & D, all of which are located
basin, reached a total depth of 15,800 feet (4,820 which Global licensed from Namcor, taking into directly adjacent to areas with mature source
metres) and hit 130 feet (39.6 metres) of net oil account recent well results in the area, and con- rocks, are estimated individually to range in
pay in the Paleozoic sandstones of the Dessouky ducted by Global’s consultant exploration man- size from 250mn to 686mn barrels of prospec-
Formation. The well is already on stream with a ager, who is also a principal of Energy Explorers tive resources (arithmetically summed gross,
daily production of 5,000 bpd. Ltd. unrisked, Pmean), based on Tower’s own initial
Eni is successfully implementing its near- Tower observes that this figure corresponds unaudited estimates.
field exploration strategy in the Egyptian West- to the portion of the prospect on Block 2011A, In addition to the structural plays identified
ern Desert through AGIBA, a joint venture and notes that approximately 25% of the Wel- above, Tower has also identified significant pro-
with Egyptian General Petroleum Corporation witschia structure lies in Block 1911, which is spectivity in stratigraphic plays within the Cre-
(EGPC) quickly turning on production of the covered by Tower’s license PEL 96. Although taceous and Palaeogene intervals, with potential
newly discovered resources. this proportion is an estimate made without for deep-water turbidite reservoir interbedded
Eni has been present in Egypt since 1954, the details of Global’s detailed reinterpreta- with mature source rocks. These are analogous
where it is the largest producer. Eni’s current tion, it would imply that the total Best Estimate to plays being explored by others in the Walvis
equity production is above 300,000 barrels of oil unrisked gross prospective resources of the and Orange basins in the South, as well as the
equivalent per day. Welwitschia Deep prospect’s entire structure Namibe basin directly to the North.
Eni, July 28 2020 would be in the region of 895mn barrels. Of this, Tower is now undertaking further technical
approximately 224mn barrels would lie in Block evaluation of the leads identified to-date as part
Tower Resources 1911, of which approximately 179mn barrels of the work programme for the Initial Explora-
tion Period for PEL 96, with focused geological,
would be attributable to Tower.
provides update on bonate and Upper Cretaceous turbidite inter- geophysical, and geochemical analysis aiming
To place this into perspective, Albian car-
to high-grade areas for further data acquisition.
activity at PEL 96 vals have also been identified within multiple As previously disclosed, Tower received an
structural traps across Tower’s Namibian blocks. unsolicited approach from a major oil company
site in Namibia These reservoirs are proven on Block 1911 in the regarding its license PEL 96 in the second half
two wells drilled by Norsk Hydro in the mid of 2019. That company has told Tower that it
Tower Resources, the AIM-listed oil and gas 1990s, with well 1911/15-1 recovering oil from remains interested in working on this project,
company with a focus on Africa, has provided Albian carbonates as well as penetrating three but has not prioritised it during the first half of
an update on activity in respect of license PEL source rock intervals. We draw investors’ atten- 2020, and we expect discussions to remain on the
96 in Namibia, covering Blocks 1910A, 1911 and tion to the more detailed summary contained on back burner in the second half of the year, or at
1912B. our website. least until the COVID-19 pandemic situation is
Tower has noted the announcement by In particular, Tower’s license PEL 96 also clearer.
Global Petroleum of updated prospective includes two other giant structures (identified This has not affected our own plans for the
resource estimates in respect of its license PEL on the map on our website at the link above as license, and we await with great interest the out-
94, covering Block 2011A, which is immedi- Alpha and Gamma) and four other substan- come of further work, such as Global’s, and also
ately to the South of Tower’s Block 1911. Global tial leads in the Dolphin Graben (identified on further wells being drilled in Namibia, including
estimates that its Welwitschia Deep Albian the same map as leads A, B, C and D), each of Shell’s well on license PEL 39 and Total’s Venus
carbonate prospect has Best Estimate unrisked which contain multiple stacked reservoir tar- well, all of which will enhance our own basin
gross prospective resources of 671mn barrels gets including Albian carbonates and Upper modelling and prospect evaluation.

Week 30 29•July•2020 www. NEWSBASE .com P17