| 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. |