Kuwait Energy (“the Company”) an independent oil and gas company with assets across the MENA region, and their main partner, the Egyptian General Petroleum Corporation (EGPC), announces that the exploration well ASH-1ST on the Abu Sennan concession, located in the Western Desert onshore Egypt discovered hydrocarbons in the Alam El Bueib (Early Cretaceous) Formation.

Kuwait Energy holds a 50% revenue interest and is the operator in the Abu Sennan development lease, while Dover holds 28% and Beach holds 22%.

Tests of the Alam El Bueib formation achieved flow rates of 3900 BBLS/D of condensate with 46 API and 3.1 MMSCF/D of gas on choke 64/64”.

This is a very important discovery as this is the first production from the deep horizons at the Abu Sennan area with good rate.

According to the statement, this discovery is a “special” one, due to its geological structure. The discovery will probably encourage the GPC to dig several wells in areas with similar geological layers in hopes of boosting Egypt’s current production of 685,000 barrels/day.

Sara Akbar, CEO of Kuwait Energy, said: “I am delighted to announce this important discovery at the Abu Sennan block which will add big value to the asset and even the neighbor assets. This discovery adds a new producing horizon to the stream and opens a window for deeper exploration targets.”

The Abu Sennan concession has 12 producing wells; producing from different formations.