Tanganyika Oil’s Egypt operations show positive developments
Canada’s Tanganyika Oil Company has reported that its activities in Egypt’s Hana oil field continue to produce well. Current average daily production during the month of March was 1,700 barrels per day (bpd) of gross field production, stated a press release.
Total cumulative gross field production to date is 2.15 million barrels. Seismic coverage over the West Gharib block acquired by the company over the past three years and by previous concession holders is now being re-processed using pre-stack time migration. Data from this program will form the basis of a drilling program planned for later in the year.
Completion of testing of the Farag-1 well is waiting on securing an anchor pump for lifting of sour gas associated with the Farag reservoir. Also, the company has applied for a new concession in an offshore/onshore Gulf of Suez block. Awarding of the concession to the successful bidder is expected soon.
In Syria, Tanganyika’s negotiations with the Syrian Petroleum Company (SPC) on behalf of the Syrian Government are at an advanced stage for a major oil development block in the northeastern region of the country. — (menareport.com)
© 2003 Mena Report (www.menareport.com)