SDX Energy PLC spudded the MSD-21 infill development well on Meseda field in the West Gharib concession in the Egyptian Eastern Desert adjacent to the Gulf of Suez.
The well is targeting the Asl Formation reservoir at about 3,200 ft TVDSS and will take around 4 weeks to drill, complete, and tie-in to existing infrastructure. It is anticipated to produce about 300 b/d gross. Costs to drill and tie in are expected to be about $1 million, with estimated payback period of less than 1 year at current oil prices.
The well is the first in a 12-well development campaign on Meseda and Rabul oil fields (OGJ Online, Mar. 8, 2021). The development drilling campaign is aimed at growing production to about 3,500-4,000 b/d by early 2023 from current rates of about 2,400 b/d.
SDX holds a 50% working interest in the license. Partners are The General Petroleum Co., a wholly owned subsidiary of the Egyptian General Petroleum Corp., and Dublin Petroleum Ltd.