By Mohammed Jetutu, in Cairo
American junior IPR Energy Group has announced a new find in the Alamein/Yidma Concession in Egypt’s Western Desert, where it holds a 100% Working Interest.
The company describes it as a “major, unprecedented find”, even though it says it encountered only 27 feet of net pay in the Lower Kharita reservoir.
Admittedly, test results delivering an average production rate of 3,300Barrels of Oil Per Day (BOPD) at 36°API with less
than 1% BS&W on a ½ in. choke is huge for an oil well in Egypt, where reservoirs hardly do up to 1,000BOPD.
Alamein 48-K was drilled to a depth of 8,960 ft utilizing the IPR-1 750 HP Drilling Rig, while testing and completion was carried out with the IPR-2 350 HP Workover Unit at a total cost of $1.55Million.
The well will be completed with an Electrical Submersible Pup (ESP) and immediately put onstream through the existing Alamein/Yidma facilities.
“This well has unlocked major potential in the Lower Kharita formation, and we will work to delimit this prolific reservoir throughout the Development Lease parallel to implementing waterflooding plans”, said Mahmoud K. Dabbous, the operator’s Chairman & CEO.
IPR acquired Phillips Petroleum’s Egypt portfolio in 1993 and continues to be the Operator after 30 years.
IPR has produced over 34 million barrels of oil from Alamein/Yidma, and the lease is now producing over 6,500 BOPD, substantially raising IPR’s total output in Egypt from eight concessions. IPR is currently amending the Alamein/Yidma Concession Agreement, which will enhance the fiscal terms for IPR and promote aggressive future investments. Over the course of its time in Egypt, IPR has invested approximately $1 billion in the Egyptian Petroleum Sector.
“Texas headquartered IPR Energy Group is a consortium of multi-faceted companies across the globe that conducts onshore and offshore operated and non-operated exploration and production (E&P), as well as field services and integrated technology packages of engineering, geoscience studies, and enhanced oil recovery (EOR) field development. IPR is a Board Member of the U.S.-Egypt Business Council, which promotes commercial and political relations between the two countries in conjunction with the U.S. Chamber of Commerce and American Chamber of Commerce in Egypt”, the company says on its website.
