El Hamra Oil Company revealed its preparations to develop three new wells in its acquisition area in El Alamein. The company will be using the Electric Submersible Pump, which is used in oil production to provide a relatively efficient form of “artificial lift”, able to operate across a broad range of flow rates and depths, by decreasing the pressure at the bottom of the well (by lowering bottomhole flowing pressure, or increasing drawdown), significantly more oil can be produced from the well when compared with natural production.

The pumps are typically electrically powered and referred to as Electrical Submersible Pumps (ESP). IPR, El Hamra Oil foreign partner, is still to decide the total budget for the ESP.

Mohamed Abdel-Monem, General Exploration Manager in El-Hamra Oil Company, told Egypt Oil & Gas newspaper that the total cost of last year’s drilling operations, which included the drilling of two exploratory wells, reached nearly $8 million.

“We continue to conduct the technical studies to resolve the amount of crude oil in the well’s layers, after finalizing the 3D seismic survey,” stated Abdel-Monem.

“The total investments of this study will reach $200,000 as we aim to increase the current crude oil production rate that stands at 1300 barrels per day,” added Abdel-Monem.

It is worth mentioning that El Hamra Oil currently produces 1300 barrels of oil per day.