IPR Energy Group discovered oil in its 5,060 sq km North Beni Suef (NBS) exploration concession in Egypt.
The first exploration well, NBS-1X, was drilled to a depth of 8,185 ft MD after a successful drilling campaign with a 1,500 hp rig. The well encountered multiple pay zones in the Abu Roash G formation with test rates as high as 1,120 bo/d pre-frac and 28.5°API oil, the company said.
The well stabilized at 470 bo/d on ½-in. choke, with less than 0.5% basic sediment and water. The well is under close monitoring and will continue to be evaluated for early production facility (EPF) sizing and fast-tracking for supply to the local market.
IPR is also conducting a 3D seismic program in NBS which is expected to add to an inventory of prospects to deliver a second exploration well in third-quarter 2023 through enhanced subsurface imaging.
IPR has been present in Egypt for 40 years and has 10 concessions, both onshore in the Western Desert, Nile Delta, and Nile Valley of the Eastern Desert, and offshore in the Gulf of Suez.
