Rockhopper Exploration, the oil and gas company with key interests in the Greater Mediterranean region, said it has an active drilling programme planned in Egypt this year, through its joint venture.
Following joint venture approvals, the company will drill one exploration well, two development wells and a water injection well, Rockhopper said in a statement.
Activity in 2019 continues to target the Al Jahraa field, as well as further exploring the concession. Drilling is expected to commence in the first quarter of 2019 with capital expenditure, net to Rockhopper’s 22 per cent interest, of approximately US$4 million.
Additionally, exploration well ASZ-1X located on Prospect S was spudded on 8 November 2018 and was the first of two commitment wells to be drilled in the first phase of the new concession. An oil discovery was made in the Abu Roash-C level with preparations underway to test and produce. The operator has applied to Egyptian General Petroleum Corporation (EGPC) for a development lease over the discovery.
“We are delighted to announce yet another successful oil discovery in Egypt meaning that 2018 has seen two successful development infill wells and two new commercial discoveries,” said Sam Moody, chief executive of Rockhopper. “With the payment situation having improved markedly and an active programme for the year ahead, our Egyptian assets continue to perform well.”
Meanwhile, other operations continue in Egypt with current production from the Abu Sennan concession, where Rockhopper has a 22 per cent working interest, is approximately 3,800 barrels of oil equivalent per day (boepd) gross (840 boepd net to Rockhopper), broadly in line with average production rates throughout 2018.
The Al Jahraa-10 well reached total depth on 16 October 2018 in the Abu Roash-F formation. Oil pay was calculated in the Abu Roash-C and Abu Roash-D levels. Following testing operations, the well was brought into production from Abu Roash-C at a rate of 130 barrels of oil per day (bopd) gross, and subject to further increase. Upside potential exists in Abu Roash-D which is being evaluated for possible acid stimulation, the company said.
Rockhopper said it continues to experience an improving payment situation in Egypt. As at 31 December 2018, Rockhopper’s EGPC receivable balance was approximately US$1.5 million (unaudited).