IPR Proceeds with Exploration Program in Egypt
IPR Incorporation reported continued drilling success and a series of Western Desert and Nile Delta discoveries through the first 5 months of 2017, reported Energy Egypt.
IPR’s calendar year drilling program in Egypt budgeted for the drilling of 23 wells, making 2017 one of the most active years operationally for IPR since its 1993 acquisition of the Phillips Petroleum Western Desert assets.
The program includes onshore exploration, appraisal, and development drilling, and work-overs offshore in the Gulf of Suez.
IPR’s North Ras Qattara concession in the Western Desert saw success from NRQ-11X and appraisal well NRQ-9-2, which tested 715b/d and 3,700b/d of oil, respectively. Both discoveries were from the Abu Roash “G” formation (ARG) in separate structures. After choking the discovery wells, production in the lease increased 60% to 4,100b/d.
IPR’s ten licenses of both operated and nonoperated concessions cover 6.2m acres in some of Egypt’s most prolific hydrocarbon systems.
The encouraging outcome of the tests has prompted expanded drilling plans in the near term along with eventual monetizing of the deep Jurassic gas-condensate discoveries in NRQ-3151 and NRQ-8X.