IPR Make Offshore Egypt Find

Texas Independent, IPR, announced the discovery of its first drilled well (SWGEZ-5) in its Southwest Gebel El Zeit concession, located offshore Gulf of Suez, Egypt. The block is operated by IPR and was acquired from Devon Energy International in 2007. IPR constructed a modern three-slot platform, 9.5 km 8-1/2 in. pipeline from platform to shore and state-of-the art surface facilities to receive future deliveries.

SWGEZ-5 was drilled by ADES’s jackup (ADM-IV) under the supervision of IPR’s operational teams and its JV Operating Company, PetroHurghada. The well took a total of 43 days to drill, test, and complete to a total depth of 8,020 feet in the Basement of the Pre‑Cambrian age. The well encountered a total of 107 feet of net hydrocarbon pay in Late Cretaceous age Nubia and Matulla formations, as targeted prolific producers in the Gulf of Suez. SWGEZ-5 tested naturally flowing oil and gas at rates of 3,611 barrels of oil per day, 2.9 MMcfg/D, and 0.2 percent BS&W, with an API gravity of 33 degrees.

IPR's Chief Operating Officer Sam Dabbous stated “We are very pleased with the results of this new discovery and the great efforts of our technical teams. We look to replicate this successful effort in our ambitious expansion plans in 2014 to exceed internal expectations and contribute to the fulfillment of the country’s mandate to increase production.”

As part of this aggressive investment plan, IPR remains on pace to invest in 57 wells to increase production and add new reserves in 2014 between its Western Desert and Gulf of Suez assets portfolio, having now drilled 11 wells in both hydrocarbon producing provinces.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Broussard: AFO Monitoring Specialist, Sr
Expertise: Geoscientist
Location: Broussard, ME
Mid to Senior-Level Environmental Geologist
Expertise: Environmental Engineer|Geologist
Location: Wichita, KS
Senior GIS Analyst- Spatial Data Management
Expertise: Geoscience Technician
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours