Repsol
Exploraci�n has discovered a new gas field in the Khalda Concession in the
Western Desert of Egypt. Repsol is the operating company, with a 50% stake, and
Phoenix and Samsung Co. Ltd. have 40% and 10%, respectively.
The
discovery well, Salam South IX, is 2.5 km. to the south of the Salam oil field,
was drilled to a depth of 3,083 metres and encountered hydrocarbon bearing Alam
El Bueib sandstone of Cretacian Age.
During production testing, 45
million cubic feet (1.3 million cubic metres) of gas and 2,700 barrels of
concentrate were produced per day. The field will start production in 1997/1998,
together with other gas fields previously discovered in Repsol's concessions in
the Western Desert.
Repsol is the third largest oil company in Egypt,
with a net production of 30,000 barrels per day, from the Khalda, Umbarka, South
Umbarka, Gulf of Suez East and Gulf of Suez West concessions. It began its
activities in Egypt back in 1972, with an exploration and production contract on
the Umbarka field in the Western Desert. Since then, Repsol has considerably
increased its interests in that country through a policy of continuous
acquisitions, buying oil-producing assets and stakes in exploration
licences.
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