Kuwait Energy and its partner Egyptian General Petroleum Corporation (EGPC) announced in a statement Wednesday that the exploration well Shahd-4 on the East Ras Qattara development lease, located in the Northern Western Desert onshore Egypt discovered hydrocarbons in the Wadi El Natrun formation (Jurassic) formation.
Kuwait Energy holds a 49.5% revenue interest in the East Ras Qattara development lease, while the remaining 50.5%is held by the operating company Sipetrol.
This is a very important discovery as this is the first time that the Jurassic formation is proven to be a hydrocarbon producer in the East Tiba Half Graben sedimentary basin.
"I am delighted to announce this discovery at the East Ras Qattara. This discovery would also allow for further diversification of our production in Egypt from oil, gas and condensates,” said Sara Akbar, CEO, Kuwait Energy.
Kuwait Energy holds a 49.5% revenue interest in the East Ras Qattara development lease, while the remaining 50.5%is held by the operating company Sipetrol.
This is a very important discovery as this is the first time that the Jurassic formation is proven to be a hydrocarbon producer in the East Tiba Half Graben sedimentary basin.
"I am delighted to announce this discovery at the East Ras Qattara. This discovery would also allow for further diversification of our production in Egypt from oil, gas and condensates,” said Sara Akbar, CEO, Kuwait Energy.
Source:
Mubasher
