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United Oil & Gas kicks off 2021 Egypt well campaign

“There is clearly great potential in the ASH Field, and if the outstanding success that was achieved in the ASH-2 well can be replicated here, it will be a fantastic result," said chief executive Brian Larkin

United Oil & Gas PLC - United Oil & Gas kicks off 2021 Egypt well campaign

United Oil & Gas PLC (LON:UOG) has announced the spudding of the ASH-3 development well at the Abu Sennan licence, in Egypt.

The company owns a 22% interest in the Kuwait Energy operated well which will target Alam El Bueib reservoirs, at a depth of 3,600 to 3,950 metres, in a location up-dip of the ASH-2 production well.

ASH-2 was brought online a year ago and has to date yielded over 1mln barrels, and is currently flowing around 4,500 barrels of oil per day.

READ: ASH gas pipeline completed at Abu Sennan

The ASH-3 well is expected to take 60 days to drill and test. It is the first well in the new 2021 well campaign and it will be followed by the ASD-1X exploration well.

"We are delighted that the ASH-3 well has been spudded, and look forward to updating the market in due course, once the well has reached the target reservoirs,” said Brian Larkin, United chief executive in a statement.

“There is clearly great potential in the ASH Field, and if the outstanding success that was achieved in the ASH-2 well can be replicated here, it will be a fantastic result for the joint venture partners.”

He added: "It is equally pleasing for the joint venture to be back drilling in Egypt again, after the deferral of the majority of the 2020 drilling programme due to the low oil price environment, and we look forward to the drilling of further wells as part of our 2021 campaign, including the ASD-1X exploration well, that will follow after completion of ASH-3."

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United Oil & Gas kickoff 2021 with a bang as drilling gets underway in Egypt

United Oil & Gas PLC's (LON:UOG) Brian Larkin speaks to Proactive London's Katie Pilbeam after the beginning of drilling for the ASH-3 development well at the Abu Sennan licence.  Speaking about the timeline for the project, Larkin says, 'we anticipate a well result in late February,...

1 week, 6 days ago

2 min read