Rockhopper Exploration said production levels had improved at an Egyptian asset on higher oil prices, triggering plans for new wells this year.
Rockhopper Exploration said production levels had improved at an Egyptian asset on higher oil prices, triggering plans for new wells this year.
Net production from the company's 22 per cent stake in the Abu Sennan concession currently stood at 880 barrels of oil per day, a similar to levels recorded at the end of 2017.
It said the six fields are currently producing approximately 835 bpd, while cash operating costs are below $8 per barrel during the first half of 2017.
Four new wells were planned to be drilled on the Abu Sennan and El Qa'a Plain properties in 2018, Rockhopper said.
Additionally, it plans one exploration well along with in-fill drilling and work over activities.
Kuwait Energy operates the Abu Sennan concession in the Western Desert and holds a 25 per cent stake after it sold a 25 per cent interest to GlobalConnect in October 2017.
Source: Pipeline ME
