{"id":13838,"date":"2023-07-26T09:34:06","date_gmt":"2023-07-26T09:34:06","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=13838"},"modified":"2023-07-26T09:34:06","modified_gmt":"2023-07-26T09:34:06","slug":"egypt-pharos-eneregytrading-and-operations-update-july-2023","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-pharos-eneregytrading-and-operations-update-july-2023\/","title":{"rendered":"EGYPT: Pharos EneregyTrading and Operations Update July 2023"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Operational Highlights<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Group working interest H1 production was 6,915 boepd net. Group working interest 2023 production guidance of 6,050 \u2013<br>7,500 boepd net remains unchanged from the Preliminary Results announcement on 22 March 2023:<br>o Vietnam H1 production was 5,566 boepd. Vietnam 2023 production guidance 4,700 \u2013 5,700 boepd net<br>o Egypt H1 production was 1,349 bopd. Egypt 2023 production guidance 1,350 \u2013 1,800 bopd net<\/li>\n\n\n\n<li>In Egypt:<br>o In addition to drilling new wells, the operations team has focused on recompletions to bring new zones to production and implement new water injection projects, which have supported production in the first half and are expected to continue to contribute to production in the second half<br>o Full year guidance remains unchanged due to higher production level expected in H2 2023 following work done to date<br>o Two development wells were drilled on the El Fayum Concession and completed in Q1 before the rig was dispatched to NBS to drill NBS-1X. The rig is now back in El Fayum where it has completed another development well before moving to drill an exploration commitment well<br>o The first exploration commitment well in the North Beni Suef Concession (NBS-SW1X) was declared a commercial discovery after encountering multiple pay zones in the Abu Roash G formation. The stabilised production test rate pre-frac is 470 bopd (gross). The operator has requested approval from EGPC for the grant of the NBS Development Lease with a view to starting production in Q4 2023<br>o Acquisition of c.110 km2 of additional 3D seismic at NBS is ongoing and the second exploration<br>commitment well is expected to be drilled this year<br>o The first exploration commitment well in the El Fayum Concession has reached total depth and<br>encountered oil-bearing reservoirs in the Abu Roash G and Upper Bahariya formations. The well will be put on test to confirm deliverability over the coming weeks using one of the workover rigs<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Jann Brown, Chief Executive Officer, commented:<br>\u201cIn Egypt, the first exploration well on the North Beni Suef Concession was declared a commercial success and is expected to start production in Q4. The group also delivered in line with its overall production guidance in the first half and expects to do the same for the full year, helped by increasing Egyptian production in the second half reflecting the continued focus on recompletions and new water injection projects.<br>\u201cWe are also delighted to have made the first payment under our new dividend policy, the foundation of our commitment to regular shareholder returns.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Operational Highlights Jann Brown, Chief Executive Officer, commented:\u201cIn Egypt, the first exploration well on the North Beni Suef Concession was declared a commercial success and is expected to start production &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/egypt-pharos-eneregytrading-and-operations-update-july-2023\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":13839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,7446,11],"tags":[709,8308,8305],"class_list":["post-13838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-north-africa","category-top-news","tag-egypt","tag-north-beni-suef-concession","tag-pharos-energy","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/07\/Egypt-North-Beni-Suef-block.png?fit=1210%2C619&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3Bc","jetpack-related-posts":[{"id":10631,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-united-oil-gas-provides-h1-2021-operational-update\/","url_meta":{"origin":13838,"position":0},"title":"EGYPT: United Oil &#038; Gas Provides H1 2021 Operational Update","author":"","date":"July 26, 2021","format":false,"excerpt":"Operational Highlights: \u00b7\u00a0\u00a0\u00a0\u00a0Q2\/21 Group\u00a0working interest production averaged\u00a02,937 boepd, yielding a H1\/21 average of 2,730 boepd, \u00a0ahead of H1 guidance of 2,300 to 2,500 boepd and in line with full-year guidance of between 2,500 and 2,700 boepd o\u00a0\u00a0This represents an uplift of 17% compared to H2 2020, when production averaged 2,340\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Egypt-Abu-Sennan.jpg?fit=750%2C406&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Egypt-Abu-Sennan.jpg?fit=750%2C406&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Egypt-Abu-Sennan.jpg?fit=750%2C406&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Egypt-Abu-Sennan.jpg?fit=750%2C406&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8964,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-pharos-energy-h1-operational-update\/","url_meta":{"origin":13838,"position":1},"title":"Egypt: Pharos Energy H1 Operational Update","author":"","date":"August 26, 2020","format":false,"excerpt":"Despite the global COVID-19 pandemic, Pharos continues to manage its operations carefully with the Group adhering to the procedures and restrictions put in place by its host countries, with negligible disruption to business in the period. Operational Summary Egypt 1H 2020 production 5,979 bopd (2 April - 30 June 2019:\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Pharos-Enegy.jpg?fit=861%2C584&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Pharos-Enegy.jpg?fit=861%2C584&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Pharos-Enegy.jpg?fit=861%2C584&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/08\/Pharos-Enegy.jpg?fit=861%2C584&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13201,"url":"https:\/\/www.oilnewskenya.com\/index.php\/united-oil-and-gas-provides-trading-operations-update-guidance-for-2023\/","url_meta":{"origin":13838,"position":2},"title":"United Oil and Gas Provides Trading &#038; Operations Update &#038; Guidance for 2023","author":"","date":"January 26, 2023","format":false,"excerpt":"Egypt, Abu Sennan licence (22% working interest) Full year 2022 production averaged 1,312 boepd net (1,137 bopd oil and 175 boepd gas), in line with revised production guidance of 1,300-1,325 boepd. 2022 Egypt work programme The 2022 work programme consisted of three development wells, two exploration wells and eight workovers.\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/12\/Egypt-Abu-sennan-3-e1670314306748.png?fit=379%2C320&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12061,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-pharos-energy-provides-2021-preliminary-results\/","url_meta":{"origin":13838,"position":3},"title":"EGYPT: Pharos Energy Provides 2021 Preliminary Results","author":"","date":"March 18, 2022","format":false,"excerpt":"2021 Operational Highlights Total Group working interest 2021 production 8,878 boepd net (2020: 11,373 boepd), in line with production guidance: Egypt production 3,318 bopd (2020: 5,270 bopd) In Egypt: Return to drilling with Batran-1X exploration commitment well and three-well development drilling programme El Fayum Phase 1B waterflood programme commenced with\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9681,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-united-oil-and-gas-provides-quarterly-production-report\/","url_meta":{"origin":13838,"position":4},"title":"EGYPT: United Oil and Gas Provides Quarterly Production Report","author":"","date":"January 13, 2021","format":false,"excerpt":"United Oil & Gas offers a quarterly production update for the period to the end of 2020. \u00b7\u00a0\u00a0\u00a0\u00a0United's H2 2020 net working interest production averaged 2,340 boepd in line with guidance for the period of 2,300 boepd \u00b7\u00a0\u00a0\u00a0\u00a0Q4 2020 net working interest production averaged 2,243 boepd (1,960 bopd oil and\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Egypt-Abu-Sennan.jpg?fit=750%2C406&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Egypt-Abu-Sennan.jpg?fit=750%2C406&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Egypt-Abu-Sennan.jpg?fit=750%2C406&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/Egypt-Abu-Sennan.jpg?fit=750%2C406&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":14649,"url":"https:\/\/www.oilnewskenya.com\/index.php\/egypt-pharos-energy-expects-continued-drilling-testing-in-2025\/","url_meta":{"origin":13838,"position":5},"title":"EGYPT: Pharos Energy Expects Continued Drilling &amp; Testing in 2025","author":"","date":"January 23, 2025","format":false,"excerpt":"Operational Highlights\uf0b7 Strong safety record with no LTIso Egypt 1,440 bopd\uf0b7 Egypt:o El Fayum: successful drilling of second exploration commitment well in September, encountering oil-bearing reservoirsin Abu Roach G formationo One El Fayum development well put on production in Decembero North Beni Suef (NBS): ongoing processing of 3D seismic datao\u2026","rel":"","context":"In &quot;North Africa&quot;","block_context":{"text":"North Africa","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/north-africa\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Egypt-El-Fayum.jpg?fit=806%2C585&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Egypt-El-Fayum.jpg?fit=806%2C585&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Egypt-El-Fayum.jpg?fit=806%2C585&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/07\/Egypt-El-Fayum.jpg?fit=806%2C585&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=13838"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13838\/revisions"}],"predecessor-version":[{"id":13840,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/13838\/revisions\/13840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/13839"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=13838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=13838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=13838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}