Neptune Energy has commenced drilling operations at the Yakoot exploration well located in the North West El Amal concession in the southern Gulf of Suez in Egypt.
The company said in its press release that it is the first well operated by Neptune in Egypt. The operation is being carried out with the ADM-8 platform, operated by ADES, and has a final target depth of about 11,800 feet.
Neptune received the exploration license for the North West El Amal concession in February 2019. The company notes on its site that it acquired 3D seismic data on the North West El Amal Offshore concession in early Q2 2020 and that data processing. ended Q4 2021. The final RTM cube was received in January 2022, according to the site.
“The drilling of the Yakoot prospect is an important milestone for Neptune in Egypt and we are grateful for the support of the Egyptian Ministry of Petroleum and the Egyptian General Petroleum Corporation (EGPC),” said the managing director of Neptune Energy in Egypt, Alexandra Thomas, in a company. statement
“After many months of careful preparation, working closely with our stakeholders and partners, we are fully focused on safely drilling this strategically important well,” he added.
The North West El Amal offshore concession covers 140 square miles and is approximately 26 miles southeast of Ras Gharib and 65 miles northwest of Hurghada.
Drilling of an exploration well is to be completed within the first phase of the development of the North West El Amal offshore concession, according to the Neptune site, which notes that two more wells are planned in the second phase
In Egypt, Neptune Energy has a 25 percent stake in Alam El Shawish West, one of the largest natural gas fields in Egypt’s Western Desert.
The company is also subject to a sale, as Eni and Vår Energi agreed to acquire all of Neptune Energy’s shares and assets through deals worth $4.9 billion.
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