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United Oil & Gas Announces the Development of the ASH-3 well in Egypt

United Oil & Gas PLC, a growing oil and gas company with a portfolio of production, development, exploration and valuation assets, has announced the launch of the ASH-3 well in the Abu Sennan License, Egypt.

United holds a 22 per cent working interest in the licence operated by Kuwait Energy Egypt.

ASH-3 is a vertical well for the production of Alam El Bueib reservoirs at a depth of 3,600 to 3,950m in the ASH field, well for the production of ASH-2. The ASH-2 well came on stream at the beginning of 2020 and has been produced by more than one mmbbl to date (gross) with a current rate of c. 4.500 barrels of oil a day for a 48/64" shock (gross).

The ASH-3 well is being drilled by the EDC-50 rig, which has a history of drilling in the Western Desert. The ASH-3 well is expected to take up to 60 days to drill and test.

The development of the ASH-3 well is the first to be drilled in the 2021 campaign and is to be financed from the operating cash flow.The second well in the drilling schedule will be the ASD-1X exploration well, targeting the Abu Roash reservoirs in the four-way dip-closed Prospect D structure in the north of the License, close to the Al Jahraa production field and, if successful, being able to be brought into production quickly. The historic License Drilling success rate is c.80 percent.

United CEO Brian Larkin said, "There is clearly a great potential in the ASH field, and if the outstanding success achieved in the ASH-2 well can be replicated here, it will be a fantastic result for the joint venture partners.

"It is equally pleasing for the joint venture to be back in Egypt after the postponement of most of the 2020 drilling programme due to the low oil price environment, and we look forward to drilling further wells as part of our 2021 campaign, including the ASD-1X exploration well, which will follow after the completion of ASH-3."

Source : www.ogafnz.com
Posted On: 1/22/2021 12:00:00 AM

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