Amoco Discoveries Add 50,000 BOPD in Egypts Gulf of Suez

abarrelfullabarrelfull wrote on 07 Aug 2012 11:23

01 June 1998

A new oil discovery and rapid development of a discovery first brought on stream in October 1997 have enabled Amoco Egypt Oil Company to increase Gulf of Suez production to 332,000 barrels of oil per day (BOPD) through the Gulf of Suez Production Company (GUPCO), the joint venture between Amoco Egypt and the Egyptian General Petroleum Corporation (EGPC).

Amoco announced today that its South Gharib SG310-4 well in the Gulf of Suez is an oil discovery and potentially the largest Amoco has made in the Gulf since 1989. The well encountered 250 feet of net pay in 2 zones in the Miocene upper Rudeis formation. Production has been established at 18,800 BOPD from the first of the two zones. Current interpretations indicate reserves of approximately 25 million barrels. The well was drilled from an existing platform in July field and is currently on production. A second well, SG 310-5, is drilling now, and one - two additional wells are anticipated to develop the new field. The discovery is located on the South Gharib concession, 1.8 kilometers west of Amoco's giant July field and can be developed entirely from existing infrastructure.

Elsewhere in the Gulf of Suez, an initial potential of 32,000 barrels of oil per day and 5.1 million cubic feet of gas per day has been achieved in just seven months of continuous drilling operations on the East Tanka Asl oil discovery. The discovery and rapid cycle time to subsequent production drilling operations by GUPCO have resulted in what are being described as "outstanding results" by Bob Sheppard, President of Amoco Egypt.

East Tanka Asl is a 12-16 million-barrel Miocene discovery located close to the giant October field. Successful economic development of the discovery has been due in large part to the use of an innovative low cost tripod platform design, the first time this has been used in Egypt. Five successful wells have been completed in this extensively faulted area. Drilling operations on the East Tanka A platform have achieved over 52,000 feet of hole over 225 continuous drilling days with no lost time accidents.

"The success of both the South Gharib discovery and the East Tanka A platform drilling results", said Bob Sheppard, " are economically significant for both GUPCO and Egypt and represent the continued high performance execution of GUPCO Exploration's Integrated Technology Strategy. This strategy, which combines innovative integration of 3D seismic and well data, state of the art computing technology, and close cooperation between drilling, facilities, operations, and exploration staff, was recently recognized by winning Amoco's Worldwide Exploration and Production's 1998 Technology Excellence Award. This project represents significant economic value for Amoco and Egypt and is an outstanding team effort — a tribute to all concerned. The fact that both these projects have been carried out efficiently and safely reinforces our goals of maximizing the value of our core holdings in the Gulf of Suez in a safe and environmentally sound manner."

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