Irving, Tex., independent IPR Inc. has made a discovery in its first drilled well, SWGEZ-5, in its Southwest Gebel El-Zeit concession in the Gulf of Suez offshore Egypt.
IPR operates the block, which was acquired from Devon Energy International in 2007. IPR constructed a modern 3-slot platform, 9.5-km, 8.5-in. pipeline from platform to shore, and state-of-the art surface facilities to receive future deliveries.
SWGEZ-5 was drilled using Advanced Energy Systems’ ADM-IV jack up rig under the supervision of IPR’s operational teams and its joint venture operating company, PetroHurghada. The well took 43 days to drill, test, and complete to a total depth of 8,020 ft in the basement of the Precambrian age.
The well encountered a total of 107 ft of net hydrocarbon pay in Late Cretaceous age Nubia and Matulla formations, as targeted prolific producers in the Gulf of Suez. SWGEZ-5 tested naturally flowing oil and gas at rates of 3,611 b/d of oil, 2.9 MMcfd of gas, and 0.2% basic sediment and water with 33° API gravity.
IPR previously reported plans to invest in 57 wells to increase production and add reserves in 2014 between its Western Desert and Gulf of Suez assets portfolio. It has currently drilled 11 wells in both hydrocarbon producing provinces.