TransGlobe Releases Operational Update for Q1 2022

TransGlobe Releases Operational Update for Q1 2022

TransGlobe Energy Company has published its operational update for Q1 2022, for its operations in Egypt and Canada.

According to the company’s production summary, TransGlobe‘s production from Egypt reached 10,045 barrels of oil equivalent per day (boe/d) in its year-to-date (YTD) average. “In Egypt production was impacted by poor weather in February and higher water cuts than anticipated at South Ghazalat,” the company said.

In the Eastern Desert, TransGlobe continued using the EDC-64 drilling rig in its campaign, in which the company managed to case and drill three development wells located in K-Field, Arta Field and NWG-Field during Q1 2022.

Moreover, the K-68 well in the Asl-A reservoir, which started being drilled at the end of 2021, was completed in January. Its currently production rate is 156 bbl/d (heavy crude, field estimate).

The company stated that it is working to mitigate the potential supply chain issues that are caused by the Russia-Ukraine conflict and the resultant sanctions through engaging alternative materials suppliers.

TransGlobe’s operations to date have not been impacted by the global crisis or any material shortages.

In the Western Desert, South Ghazalat, a “rigless artificial lift system was successfully deployed to restore production,” according to TransGlobe’s Statement.

“We achieved a solid operational start to the year with drilling in both Egypt and Canada generating production in line with guidance, and we have opportunistically retained the Canadian rig to accelerate the budgeted seven well drilling program as demand for services and equipment increases,” Randy Neely, TransGlobe President and CEO, stated.

“Corporately, a second quarter lifting is a testament to the continued alignment between Egyptian General Petroleum Corporation (EGPC) and ourselves following the signing of the merged concession agreement in January 2022. We continue to work closely with EGPC to finalize the effective date adjustment to be paid to TransGlobe,” Neely added.

Sarah Samir 2786 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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