03/26/98
REPSOL: NEW DISCOVERIES IN EGYPT AND THE GUADALQUIVIR VALLEY
 

Repsol has made a new discovery of oil and gas, in the West Mediterranean Block (Block 1), in the western desert of Egypt. Other structures in the same block, near this discovery, have been identified for potential exploration, and will be appraised in the future.

The discovery well, North Alamein-1X, reached a depth of 3,551 metres on February 22nd, last. Tests gave a production of 8,300 barrels of 38� API oil and 100,000 cubic metres of gas per day.

The block is operated by Repsol, with a 33.3% stake, and the other 66.6% belongs to the American company, Apache.

Repsol began its activities in Egypt back in 1973, and is now exploring 14 blocks, and operating 10 of these. It is the third largest oil company in the country, with a net production of over 25,000 barrels per day, from the Khalda, Umbarka, South Umbarka, Gulf of Suez East and Gulf of Suez West concessions.

Repsol has also made a new gas discovery in the Guadalquivir Valley, Spain, in association with Locs, who hold a 75% interest, while Repsol has the remaining 25%.

The discovery well is called Santa Clara - 1, and is on the Romeral concession, some 5 km. to the north-east of Carmona. It was drilled to a depth of 702 metres, where it found gas in the sandstone Upper Miocene layer. Production tests gave 140,000 cubic metres of gas per day.

Other discoveries in the vicinity are the Seville-1, Seville-3 and El Ciervo, between the cities of Seville and Carmona, and they are expected to go on stream for power generation at the end of 1998.