Shell Egypt announces two ultra-deepwater discoveries

Source: www.oilegypt.com 2/15/2004, Location: Africa

Shell Egypt, with co-venturers Petronas Carigali Overseas Sdn. Bhd. and the Egyptian Natural Gas Holding Company have succeeded in making two hydrocarbon discoveries in their offshore concession in the Mediterranean. The partnership completed a three well ultra-deepwater drilling campaign in the North East Mediterranean Deepwater Concession, setting new water depth records for Egypt and the Mediterranean, with drilling in over 2400m of water.

The three wells (Kg45-1, Kj49-1 and La52-1) have successfully tested a variety of hydrocarbon plays in the southwest of the concession area. Hydrocarbon discoveries have been made in two locations, and an extensive evaluation programme has been completed. A large volume of new data is now being integrated into the partnership’s geological models for the area.

Having successfully completed all first phase exploration obligations Shell Egypt and Petronas Carigali will now enter the four year 2nd Exploration Phase in the Concession as part of the plans to commercialise the discoveries.

Matthias Bichsel, Shell’s Global Exploration Director said, "The drilling results have demonstrated that this ultra-deepwater area is a rich hydrocarbon province. The priorities now are to commercialise the discoveries as rapidly as possible and to ensure that an optimal follow up appraisal and exploration programme is designed within this large concession.”

Andrew Vaughan, the Chairman of Shell Companies in Egypt, added: “We are very pleased with the results from the NEMED drilling programme. The wells were drilled safely and efficiently using Shell’s Surface Blow Out Preventer (SBOP) technology. The SBOP enabled us to drill in deep water more efficiently than with conventional equipment and to successfully explore the ultra-deepwater Nile Delta.”

The wells were drilled by Shell and Bapetco (a joint venture of Shell Egypt and the Egyptian General Petroleum Company) using the semi-submersible drilling rig, the Stena Tay.



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