ArabFinance: Pharos Energy plc announced an oil discovery in two reservoirs in Fayoum, the company said in a press release.
“In Egypt the Batran-1X exploration commitment well has encountered oil in the Abu Roash Lower “G” (LARG) and the Upper Bahariya (UB) reservoirs,” the company said.
The Batran-1X commitment exploration well was drilled 4 kilometers west of the Main Tersa-1X well on a fault-bounded and three-way-closed dip potential.
The well encountered 15.85 meters of net oil pay in the LARG and UB sands. In addition, oil was encountered whilst drilling in the Abu Roash “A”, “D” and “E” sands.
The Batran-1X well will be completed as a potential future producer in the LARG and UB reservoir sections, using a workover rig as part of El Fayum field activities ramp-up phase.
The new discovery reconfirms the potential for additional oil on the El Fayum concession, with a potential of 4.3 million barrels in its Abu Rawash Lower “G” reservoir, and a smaller 430,000 barrel deposit in its Upper Bahariya reservoir.
The concession consists of 10 oil fields over an area of over 1.8k square kilometer.
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