Pharos Energy PLC drilled a production well in the El Fayum concession in Egypt’s Western Desert. The Batran-1X commitment exploration well was drilled on a fault-bounded and three-way-closed dip prospect 4 km west of the Main Tersa-1X well. The well reached total depth on June 4 and encountered 52 ft (15.85m) of net oil pay in the LARG and UB sands. Additional thin pay zones may also be present in the Abu Roash A, D, and E sands where oil shows were also encountered. Readings confirm that the oil-bearing reservoirs are at initial pressure.
The well will be completed as a potential future producer in the LARG and UB reservoir sections using a workover rig as part of El Fayum field ramp up.
Preliminary post-well in-place volume and resource estimates for the LARG and UB discoveries are 4.3 million bbls and 430,000 bbls, respectively. The unconventional Abu Roash F play, which is considered potentially prospective over the northern half of El Fayum and which was also encountered in the Batran-1X well, has a further 1.5 billion bbls of unrisked unconventional oil in place potential in tight organic-rich marls.
The El Fayum concession prospect and lead inventory has an estimated unrisked in-place volume potential >400 million bbl in 40 prospects all with “more of the same geology” and covered by the existing 3D seismic. Of this total, >220 million bbl is in prospects close to existing infrastructure and 156 million bbl is within current long-term development leases. An additional 230 million bbl of unrisked in place volumetric potential lies in new plays (e.g. deeper untested formations) or in leads outside of the present 3D seismic area.
Future exploration drilling activity in the proven basins of El Fayum and North Beni Suef (NBS) will focus on near-field prospects close to existing infrastructure and prospects with new play potential. Once land access is granted, future seismic acquisition will focus on 3D in the northern portion of El Fayum to mature existing leads. Additionally, 2D seismic will evaluate frontier potential in the unexplored Eastern Desert portion of NBS.
Pharos Energy is operator at El Fayum and NBS (100%).
