Egypt approves development plan" for Hana oil discovery onshore Gulf of Suez

Nov 24, 1999 01:00 AM

The Egyptian General Petroleum Corporation has granted "Commerciality" status and approved a "Development Plan" for the Hana oil discovery on the West Gharib Block, onshore Gulf of Suez, Egypt.
With this approval, production operations will be initiated immediately through temporary facilities. Crude oil produced from the Hana-1 and Hana-2 wells is expected to average 4,000 bpd and will be trucked some 15 km to the Bakr South shipping terminal, operated by the General Petroleum Corporation.
Permanent storage/process facilities and an 8-inch, 11 km pipeline designed to handle over 20,000 bpd, are expected to be commissioned by May 2000. The EDC rig No. 17 has been contracted to drill 3 additional development wells commencing in early 2000, which will further boost production in the first quarter. Additional producers and pressure maintenance injection wells are planned for later in the first half of this year.

The Hana oil discovery is believed to be typical of a number of oil pools expected to be found in the future on the vast West Gharib Block. Exploration activities will be augmented with an extensive geophysical program encompassing 310 sq. km of 3D seismic. Subsequent drilling is planned for the second half of this year in the West Gharib Concession which covers an area of 2530 sq. km.

Drucker Petroleum Inc., a wholly owned subsidiary of Drucker Industries, Inc., holds a 20 % interest. Tanganyika Oil Company Ltd., through its wholly owned subsidiary Dublin International Petroleum (Egypt) Limited, is the operator of the West Gharib block holding a 50 % interest and GHP Exploration (West Gharib) Ltd., a wholly owned subsidiary of TransAtlantic Petroleum (USA) Corp. holds the remaining 30 % interest.
Besides Egypt, Drucker has an interest in the Semhari East-1 oil exploration well on the Hassi Bir Rekaiz concession in Algeria. The well has spudded on Nov. 8, 1999 and will be drilled to total depth of approximately 3,800 metres, targeting the Triassic and Ordovician reservoirs, the most prolific reservoirs in the region. Drilling to-date has reached a depth of 1800 m.
The Hassi Bir Rekaiz oil concession covers 788,000 acres (3,192 sq. km) in the northern portion of the prolific Ghadames basin in northern Algeria where major oil reserves in excess of 4 bn barrels have recently been discovered by Agip, Burlington, Cepsa, BHP and also Anadarko, whose El Merk North discovery is reported to contain over 1 bn barrels of oil in place. The flow rate on their discovery well was in excess of 21,000 bpd.

Source: Drucker Industries Inc.
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