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Wednesday, March 16, 2022
United Oil & Gas PLC announced an update on the drilling of the ASD-2 development well (ASD-2) which was drilled to test the north-western culmination of the commercial discovery in the ASD field last year. The well is located in the Abu Sennan license, onshore Egypt, where United holds a 22% working interest and the license is operated by partner Kuwait Energy Egypt.
The well safely reached a total depth of 3,631 meters. The well has now been logged and is interpreted to have encountered at least 25.5 meters of net oil pay across the Abu Roash and Bahariya reservoirs. An estimated 20 meters of net pay was encountered in the Abu Roash-E reservoir, significantly above pre-drill expectations. The well will be tested and completed in the coming days and brought immediately onstream through the existing ASD facilities, adding additional production and revenue for United. United will provide a further update to the market once the well has been brought onstream and flow-rates have been established.
ASD-2 is the first well in the 2022 Abu Sennan drilling campaign. After completion of ASD-2, the ECDC-6 rig will be released and the campaign will continue with the Sino Tharwa-1 rig. Technical work to finalize the drilling locations at the Al Jahraa and ASH fields is ongoing, and as a result, the ASV-1X exploration well has now been brought forward in the drilling program as the next well to be drilled. United estimate that the ASV-1X structure has the potential to hold over 2.5 million barrels gross mean recoverable resources. The well is expected to spud in the coming weeks.
United’s Chief Executive Officer, Brian Larkin commented: “We are really pleased with the result from the ASD-2 well, which provides a very positive start to the 2022 drilling campaign. Our production is highly leveraged to the current higher oil prices and oil/gas discoveries can be quickly brought on stream through existing facilities, generating immediate revenue for the Company. There remains significant potential within the Abu Sennan license, and we are looking forward to drilling the upcoming ASV-1X exploration well. This well is targeting a United estimate of over 2.5 million barrels gross mean recoverable resources. The rig has been mobilized and we look forward to the well spudding in the coming weeks.”
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