Gulf of Suez block gets second discovery

IPR Energy Red Sea and India's ONGC Videsh are rigging up to drill a third well on the 290 sq km North Ramadan concession in the Gulf of Suez off Egypt.

Nov 6th, 2008

By OGJ editors
HOUSTON, Nov. 6 -- IPR Energy Red Sea Inc., Irving, Tex., and India's ONGC Videsh Ltd. are rigging up to drill a third well on the 290 sq km North Ramadan concession in the Gulf of Suez off Egypt after making a second oil and gas discovery.

The North Ramadan-2 exploratory well flowed as much as 800 b/d of 34° gravity oil and 500 Mcfd of gas, natural, with no water from 113 ft of perforations in a gross 286-ft interval of interbedded sandstones, shales, and limestones in the Miocene Asl formation. TD is 11,700 ft measured depth in the Lower Miocene Mheiherrat formation.

"Pressure transient analysis indicated that stimulation of NR-2 will likely increase well productivity significantly," IPR said.

NR-2 is north of and on a fault block separate from the first discovery, NR-1A ST1, which produced 3,000 b/d of oil and 1.5 MMcfd of gas on test. The discoveries are near production facilities on the North July Development Lease.

Production rates from the first phase of development in this one lease in the concession are forecast at 5,000 b/d of oil and 3 MMcfd of sweet gas, IPR said.

The joint venture has shot 205 sq km of 3D seismic and identified several key prospects to pursue in later exploration phases and has built a cost recovery pool exceeding $50 million in Phase I that will be parlayed into future development.

More in Exploration & Development