Production increases at Egypt’s ERQ Concession

oilwell egypt-octal flickrERQ, Kuwait Energy’s largest producing asset, has 15 producing wells and three wells under development. (Image source: Octal/Flickr)Kuwait Energy and Egyptian General Petroleum Corporation have recorded an increase in production at East Ras Qattara (ERQ) Concession in Egypt’s Western Desert

Gross field production for the ERQ Concession was increased to 17,000 bpd after the completion of the Shahd-3 development well’s drilling, which initially recorded 4,300 bpd, Kuwait Energy said.

Daily production rates at the Concession are expected to exceed 20,000 bpd by the end of the Q2 of 2013, it added.

ERQ, Kuwait Energy’s largest producing asset, has 15 producing wells and three wells under development.

The firm holds a 49.5 per cent working interest in ERQ, while the remaining working interest is held by Sipetrol, also the operator of the concession.

Earlier this month, Mohammad Alhowqal, the firm’s chief operations officer said that the company plans to invest US$102mn in Egypt this year as part of its plan to expand its operation in the North African country.

 

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