International oil and gas production company Circle Oil is producing 873 barrels of oil per day at its Al Amir SE-13 well in Eypt, according to an update posted by the company this morning.
The well, located in the north central part of Circle's AASE field, flowed oil and gas on a test on November 30th at an average rate of 1,600 barrels of oil per day.
Professor Chris Green, Chief Executive Officer, said: "Circle is delighted with the results of the AASE-13 well, which has been completed as a Shagar oil producer. This infill well result will add to the ultimate recovery from the field."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The rig has now being moved to drill the AASE-14 well, which is intended as a central infill producer, for the AASE field and is part of the overall plan to improve the productivity of the NW Gemsa accumulations."
Currently production from the AASE, Geyad and Al Ola fields is approximately 9,840 barrels of oil per day (gross).
Cumulative production from the NW Gemsa Concession has now exceeded 9.8m barrels of 42 degree API. Crude oil and water injection has now reached a cumulative injection of approximately 7.2m barrels.
MF
-
Barclays begins paying up to £100 compensation to customers after banking outageBarclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
-
Review: Shangri-La Paris – an ode to the world’s best foodNatasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
