Apex International Energy has announced a new oil discovery in the Southeast Meleiha Concession in the Western Desert of Egypt.
The discovery was made at the SEMZ-11X well located 10 km west of the nearest producing field, Zarif field. The well was drilled to a total depth of 1,737.36 metres (5,700 feet) where it encountered 19.8 metres (65 feet) of oil pay in the Cretaceous sandstones of the Bahariya and Abu Roash G formations. Testing of the Bahariya resulted in a peak rate of 2,100 barrels of oil per day with no water.
Additional uphole pay exists in the Bahariya and Abu Roash G formations that can be added to the production stream in the future.
The SEMZ-11X was Apex second exploration well in an ongoing three-well programme following the acquisition and processing of 1,342 square kilometres of 3D seismic data between 2019 and 2020. The first well, SEMZ-1X drilled in December 2019, also discovered Bahariya oil with 8.15 metres (17 feet) of indicated pay. This first well is located 23 km west of Zarif field and was also drilled to 1,737.36m (5,700 feet). It tested at a rate of 100 barrels of oil per day. Apex plans to fracture stimulate the 1X in the future to increase that producing rate.
More oil discoveries possible for Egypt
Roger Plank, founder and CEO of Apex: “These oil discoveries are an important step in our company’s development and in validating our strategy to grow an oil and gas company of substance through a combination of drilling and acquisitions. The presence of hydrocarbons in both the 1X and 11X confirms our geological model and significantly enhances the prospectivity of a number of other mapped prospects and leads across our 2,534 square kilometres.”
The third well of the current drilling campaign, the SEMZ-3x, will start later this month. Apex plains to drill 3X to a depth of 1,737.36 metres (5,700 feet) in search of oil in the Bahariya Formation. SEMZ-3X will be located 5kms east of the Zarif field.
Apex holds a 100% working interest in the SEM exploration concession which encompasses 2,534 square kilometres. The company acquired this concession interest through a 2016 exploration bid round of the Egyptian Petroleum Corporation and signed the agreement in 2017.