KUWAIT, March 3 (KUNA) -- Kuwait Energy company Monday revealed it is conducting geological, seismic, and other surveys of reservoirs and wells drilled by Borg Al-Arab and Kriti Oil and Gas.
Board Chairman and Managing Director Dr. Manssour Aboukhamseen told KUNA well no. 7 of operator Borg Al-Arab in the Western Desert, Egypt, was to undergo geological surveys.
Aboukhamseen said production at the well started in January 27 at a daily output of some 500 barrels. He said there are still spaces within the top sand layer with signs of oil reserves and encouraging testing results.
A dolomite layer was also said to be present at the site, and Aboukhamseen said these layers would all be added to the production line gradually.
Kuwait Energy, based in Kuwait, aims at a production of 50,000 barrels a day from confirmed reserves of 300 million barrels of oil and equivalent gas by 2010, principally in the Middle East region.
The company has a paid-up capital of KD 50,094,947 (USD 172 million) and sees itself as being the pre-eminent Middle East based independent oil and gas exploration and production company and a sought-after partner of choice for upstream hydrocarbon properties in the region, and strives to remain an environmentally responsible operator.(end) hq.wsa KUNA 031326 Mar 08NNNN