United Oil and Gas Plc (UOG) recent reported that drilling for the ASW-1X exploration well has begun as planned. The corporation and its partners had planned a total of five well. As part of the drilling campaign for 2022, with this one being the last.
A total of four on-site reservoirs contain 8m barrels of potentially recoverable resources that are the focus of the well. A possibility whose likelihood of failure has been decreased in part as a result of this year’s reprocessing of the seismic data available for Abu Sennan.
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Remarks on the drilling for the ASW-1X exploration well
CEO of UOG, Brian Larkin said, “The joint venture’s strategy includes using this important exploration well to not only indirectly target significant volumes but also to lower the risk of several additional similar structures in this license’s area.”
ASW-1X exploration well should be connected to the current infrastructure and support the business’ total output if a commercially viable finding is found. According to the most recent projections made by UOG and released at the end of November, this will be between 1,300 and 1,325 b/d net. However, no information regarding the planned schedule of activities has spread.
The HF36-5X discovery discovered in a nearby block in 2020 as well as the outcomes of 2022 seismic reprocessing on the Abu Sennan license, which gave superior imaging and delineation of the ASW targets, helped to de-risk the ASW-1X potential.
Note that the corporation owns a 22% share in the concession in Abu Sennan. It is run by Kuwait Energy Egypt (25%) in the latter. Dover Investments and Global Connect Ltd., two investors, each contribute 28% to the scope.