PICO Cheiron Group signed a sale and purchase agreement for the West El Burullus Concession in August 2016, subject to the completion of a number of requirements. West El Burullus is a shallow-water gas Development Lease located in the western part of the Nile Delta Basin, next to major producing fields such as the Rosetta Gas Field (25 km to the northeast). The concession is expected to add some 192 bcf to PICO Cheiron’s reserve base.…
PICO Cheiron Signs SPA for North Baharya Concession
PICO Cheiron Group signed a share purchase agreement for the North Baharya Concession in August 2016, subject to the completion of a number of requirements. The North Baharya block is located in the Western Desert over an eastern extension of the Abu Gharadig Basin and is in close proximity to the East Baharya Block. It covers an area of c.117 sqkm and contains six producing oilfields: Abrar, Ferdaus, Ganna, Rawda, Sidra and Rayan. The concession is expected to add approximately 33…
Geisum Successfully Drills GC-9A
The Geisum well was successfully spudded on 7 June 2016 and was put into production on 16 July 2016. The well target reservoir is Shagar, its initial flow rate is 1223 mbopd, and reserve addition is 0.75 MMbbls.…
PICO Cheiron Successfully Drills Am 18 Sidetrack Well at its Amal Field
As part of the Group’s strive to continuously grow its working interest production, in March 2016 PICO Cheiron successfully drilled the Am 18 sidetrack well targeting the Rudeis reservoir in the Amal concession. The well results were successful with an initial flow rate of 7 MMscf/day of gas and 400 bbls/day of condensate and expected additional reserves of 6 BCF.…
International Consultants Hired to Refresh Prospect Inventory
International consultants from Berskshire Land and Energy have been hired to take a fresh look at the Group’s current portfolio and build up our prospect inventory. PICO Cheiron brings in consultants with international expertise every two years, with the aim of taking a fresh look at our assets and to make sure we are driving the maximum value from them.…
PICO Cheiron Successfully Drills Am 23A Well at its Amal Field
In January 2016, the company successfully drilled the Am 23A well targeting the Rudeis reservoir in the Amal concession. The well results were successful with an initial flow rate of 2,400 bbls/day and current production of 2,000 bbls/day, with expected additional reserves totaling 1.1 MMbbls.…