Europa to shoot 2D seismic over West Darag concession

Egyptian General Petroleum Corp. has given an extra 6 months to Europa Oil & Gas (Holdings) PLC, London, to acquire 2D seismic over the West Darag concession in Egypt.

Jun 12th, 2009

Uchenna Izundu
OGJ International Editor

LONDON, June 12 -- Egyptian General Petroleum Corp. has given an extra 6 months to Europa Oil & Gas (Holdings) PLC, London, to acquire 2D seismic over the West Darag concession in Egypt.

The 350 km of seismic is required under the first phase of its program before Europa can make the decision to move into second stage. Initially Europa planned to reprocess the existing seismic but found that the original tapes were damaged.

“The preferred contractor for this new seismic acquisition has indicated its availability to undertake the survey in July,” Europa said. “The cost of the survey, detailed in the winning tender, will for the most part be covered by the existing letter of guarantee that Europa provided in favor of EGPC.”

Europa, along with its partner Solaris Energy PLC, has identified several structural leads each with reserves potential of 15-35 million bbl of recoverable oil in the Sukhna area of the concession. Sukhna is a coastal plain where the Gulf of Suez rift comes onshore, and its proven petroleum system is indicated to extend into the area of these mapped leads. “The [Gulf of Suez], despite its small overall size, is an extraordinarily prolific petroleum system, having produced over 5 billion bbl to date,” said Europa.

The company hopes to drill its first well in 2010.

Contact Uchenna Izundu at uchennai@pennwell.com.

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