Vegas Oil & Gas discovers oil, gas and condensate in Egypt
Vegas Oil & Gas has announced that oil, gas and condensate have been discovered at the East Ghazalat concession in Egypt’s Western Desert
The North Dabaa 1X exploration probe was drilled to a total depth of 4,492 metres, Vegas Oil & Gas partner TransGlobe Energy said.
The probe hit around 2.4 metres of net oil pay in the Abu Roash formation and seven metres of gas and condensate pay in the Khatatba formation, according to the company.
A subsequent 72-hour flow test saw average daily production rates of around 458,733 cubic metres of gas and 1,620 barrels of 56º API condensate, TransGlobe Energy added.
The company said the new pool discovery would require additional drilling to determine the extent and commerciality of the discovery.
Greek-owned and based in Cairo, Vegas Oil & Gas holds a 50 per cent operatorship stake in the East Ghazalat concession, with TransGlobe Energy holding the other 50 per cent following a 2010 farm-in agreement.
The North Dabaa 1X discovery lies 1.4km east of TransGlobe Energy’s wholly-owned South Ghazalat block.