Melrose expects to double oil production from its concession in Egypt

January 6th, 2008 - 11:44 am ICT by admin  

By Iaonnis Solomou
Nicosia, Jan 5 (ANI): The Scotland-based firm Melrose Resources has announced that the West Dikirnis oilfield has started producing some 5,000 barrels a day (b/d), but the company expects that by the end of 2008 it will be in a position to double its production through the drilling of additional wells.
Melrose’s Chief Executive David Thomas has said that at least 15 more wells would be drilled by the end of the year and production would be raised to 10,000 b/d. The oil produced from the concession is sold to the Egyptian government, through a local pipeline system. Thomas added that the West Dikirnis field had an estimated 130 billion cubic feet of natural gas reserves.
Melrose holds 100 per cent interest in the South East El Mansoura concession and the West Dikirnis concession. Furthermore, it has a 40 per cent interest in the Mesaha exploration block in Upper Egypt. Oil production in Egypt has been steadily declining in the last decade, but the new discoveries encourage the Energy Ministry that this trend would be reversed and that soon it would be able to for oil and condensate production to increase by 100,000 b/d a year. (ANI)

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