Vegas group tests oil in new Egyptian strike
Uchenna Izundu
OGJ International Editor
LONDON, May 22 -- Vegas Oil & Gas SA tested an average of 2,809 b/d of oil from two pay zones in the Geyad-1X exploration well in Egypt. The company is completing the well as a potential producer.
The well produced 40° gravity oil with 3.04 MMscfd of gas on sustained tests of Miocene Kareem sandstones through a 1-in. choke.
"The lower pay zone in the Kareem Rahmi formation is a net 19 ft thick. The lower Kareem Rahmi formation zone has been tested at a sustained rate of 1,174 b/d and 1.324 MMscfd," said Circle Oil, a partner in the well.
The upper pay zone in the Kareem Shagar formation is a net 10 ft thick but was not tested separately.
The onshore well is on the 400-sq-km North West Gemsa concession, 300 km southeast of Cairo in the Gulf of Suez basin.
The rig, Mubarak-1, will be moved to drill the SE-3 appraisal well in Al Amir oil field on the same concession, where Vegas began production earlier this year (OGJ Online, Mar. 2, 2009).
The concession agreement includes the right of conversion to a production license of 20 years, plus extensions, in the event of commercial discoveries.
Partners are Vegas Oil and Gas which has 50%, Circle Oil PLC with 40% interest, and Premier Oil PLC with 10% interest.
Contact Uchenna Izundu at [email protected].