Rockhopper provides update on its Greater Mediterranean portfolio

AIM-listed Rockhopper Exploration, the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, has provided an update in relation to its Greater Mediterranean portfolio.

 

Abu Sennan, Egypt (22% working interest)
Current production from the Abu Sennan concession is approximately 4,100 barrels of oil equivalent per day (‘boepd’) gross (915 boepd net to Rockhopper), an approximate 10% increase over average production rates during 2018.

 

ASZ-1X

As previously announced, exploration well ASZ-1X located on Prospect S was spudded on the 8th November 2018 and an oil discovery was made in the Abu Roash-C reservoir. The award of a development lease over the discovery is currently pending governmental approval.

 

2019 drilling campaign

Following joint venture approval, an active drilling programme has been agreed for 2019 including the drilling of one exploration well (SW-ASH-1X), two in-fill oil producer wells (Al Jahraa-11 and Al Jahraa-7) and a second water injection well on Al Jahraa field.

 

Activity in 2019 continues the planned development programme in the Al Jahraa field, as well as further exploration on the concession.

 

The 20 inch conductor has been set in place at the Al Jahraa-11 location and the rig has been mobilised to site. Spud is anticipated towards the end of February for this first well of the 2019 drilling campaign.

 

The well is expected to take approximately 54 days to complete and is targeting the AR-C and the Bahariya reservoirs.

 

Ombrina Mare arbitration

In March 2017, Rockhopper commenced international arbitration proceedings against the Republic of Italy in relation to the Ombrina Mare field. The hearing took place in early February 2019 in Paris with post hearing briefs to be submitted in the coming months and an outcome expected in the late third quarter or early in the fourth quarter of 2019.

 

Rockhopper continues to believe it has strong prospects of recovering very significant monetary damages – on the basis of lost profits – as a result of the Republic of Italy’s breaches of the Energy Charter Treaty.

 

Source: Energy-pedia