Kuwait collection for Petrofac
UK contractor Petrofac has collected a new contract with Kuwait Oil Company for work on new oil and gas pipelines.
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Circle hits pay in Gulf of Suez
Published 09.03.2010 10:20:04 by John Bradbury
London-listed Circle Oil has successfully tested its Al Amir SE 5 appraisal well drilled onshore Egypt in its North West Gemsa concession area. Circle said Kasheem formation sandstones in the well tested flowed at a rate of 6,150 b/d of 42° API oil and 6.9 Mmcf/d of gas and a second test produced 4,300 b/d of oil and 4.9 Mmcf/d of gas after the well encountered two pay zones up to 11.12 metres (36.5 ft) thick..
After production testing the well, which marks the fourth appraisal in the Al Amir Southeast area, Circle said it will be completed and prepared for production. Another appraisal well is also planned for the same area.
The concession area, operated by Vegas Oil with 50%, and partnered by Circle with 40% and Sea Dragon Energy with 10%, lies in the Gulf of Suez Basin, about 300 km (188 miles) southeast of the capital Cairo.
“A full technical evaluation of all the results is underway to assist in development planning and is a precursor to continuing further assessment of the resource potential,” Circle Oil stated today. “These results will also assist in delineating the extent of the reservoir in the area. An assessment of reserves has not yet been completed.”
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