Kuwait Energy Announces Discovery at Egypt’s Abu Sennan

Big 5

Kuwait Energy and their main partner, the Egyptian General Petroleum Corporation (EGPC), announce Wednesday that the operated exploration well ASA-1 st3 on the Abu Sennan license, onshore Egypt discovered hydrocarbons in the Abu Roash” E” and Abu Roash ” C” formations.

The ASA-1 st3 licensees are Kuwait Energy 50% (operator), Dover 28% and Beach Energy 22%.

According to a statement released by Kuwait Energy, the well was tested successfully over the Abu Roash “E” and Abu Roash “C ” reservoirs, with flow rates achieved of 1,604 bopd and 2,164 bopd respectively.

This is the seventh exploration success in the Abu Sennan concession and the twenty third discovery in Egypt for Kuwait Energy since 2008.

On the development front, the Company has successfully completed the appraisal of the El Salmiya-6 well. The test results from the primary target, Kharita Sandstone, are 2,750 bopd and 9.7 MMscfd of gas on ¾” choke.

In this respect, Sara Akbar, CEO of Kuwait Energy , said: “I am delighted to announce yet another discovery for Kuwait Energy at Abu Sennan. Egypt continues to be a flourishing region for us and this exploration success has the potential to add to our reserves and daily production levels.”

Kuwait Energy is an independent oil and gas exploration and production company operating in the MENA region; and

As at 31 May 2014, Kuwait Energy ‘s working interest proven and probable reserves were 165.7 million barrels of oil equivalent and its current production has reached approximately 25,069 barrels of oil equivalent per day as at 30 June 2014.