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COPYRIGHT 2002 Access Intelligence, LLC.
Exploration in Egypt was particularly fruitful during the latter half of 2001, resulting in 15 discoveries, worth an estimated $3.75 billion at current prices. The discoveries, estimated to contain 178 million barrels of oil and condensate and 55 billion cubic feet of gas, represent 90% of Egypt's target for additional reserves for the entire 2001-02 fiscal year, reports Ogilvie's E&P Daily.
Shell and Apache Corp. closed out the year with a find in the Western Desert at their 2.4-million-acre Abu Gharadig concession. The JG-1X well tested 4,190 barrels of oil and 5 million cubic feet of gas per day from perforations between 10,497 and 10,517 feet in the Jurassic Khatatba sandstone.
Indications are the good times will continue. Apache has already announced its first discovery of 2002, also in the Western Desert. The first of three zones in its Ozoris-1X, in the 2-million-acre Khalda concession, flowed at the rate of 2,504 barrels of oil and 750,000 cubic feet of gas per day. The wildcat, which is nine miles from production, was tested in the Cretaceous Alam el Bueib Sand.
Additionally, BP plans to begin a three-well drilling program in the deepwater portion of the Mediterranean Sea. Two of the wells will be on its wholly owned West Mediterranean Deep concession, in 2,600 to 3,300 feet of...
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