UK-based SDX Energy has started drilling the MSD-25 infill development well, on the Meseda field, in Egypt’s West Gharib concession.
The firm said that the MSD-25 well will target the Asl Formation reservoir, with a true vertical depth sub sea (TVDSS) of approximately 3,250ft.
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SDX expects that it will take approximately six weeks to drill, complete, and tie-in the MSD-25 well to the existing infrastructure.
The well is estimated to have a gross production capacity of 300 barrels per day (bbl/d).
The well marks the second in the planned 12-well development drilling campaign, on the Meseda and Rabul oil fields, in the West Gharib concession.
The first well, MSD-21, has already been tied-in, and has started production. It is expected to reach a gross production of 300 barrels per day in the next few weeks.
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By GlobalDataSDX CEO Mark Reid said: “I am pleased that we have spud MSD-25, the second well in the campaign, so quickly after bringing MSD-21 onto production, which is testament to the efficiency of the operations team, and bodes well for completing the campaign in a timely manner.
“West Gharib is a very high margin asset in our portfolio, with a netback of US$35/bbl at US$68/bbl Brent, in the first nine months of 2021. Given this, it is our intention to execute this 12-well campaign as quickly as possible, and thus significantly boost production and cashflow from these fields.”
The campaign aims to grow production from the current gross rates of approximately 2,100bbl/d to 3,500 – 4,000bbl/d by early 2023.
According to the SDX Energy website, the company owns a 50% working interest in block H of the West Gharib concession. This block hosts the Meseda and Rabul fields.
Dublin International Petroleum is the other stakeholder.
In December last year, SDX reported a 4.23% increase in production in August 2021.
