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RWE Dea celebrates 30 years of production in Gulf of Suez

HAMBURG, Germany -- RWE Dea has achieved 30 years of oil production in the Gulf of Suez. The company has been producing oil from the Ras Fanar field, just a few miles off the west coast of the Gulf, since 1984.

Oil production at RWE Dea’s other two concessions in the Gulf of Suez -- Zeit Bay and Ras Budran -- has also been ongoing for around 30 years. From these three oil fields, RWE Dea has produced a total of 640 MMbbl of oil. RWE Dea operates and owns 100% of the three concessions.

Production operations are carried out by the Suez Oil Company (SUCO), a JV of RWE Dea and the Egyptian General Petroleum Corporation (EGPC).

“For 30 years now, we have consistently leveraged new ideas to develop intelligent solutions, using the latest technology, and investing in our infrastructure. That’s how we have been able to maintain a high level of oil production from these three fields over an extended period of time while ensuring profitability,” said Maximilian Fellner, general manager of RWE Dea Egypt.

RWE Dea is developing the Zeit Bay field using extended reach wells drilled from land in addition to the existing offshore wells. Currently, RWE Dea is working in the Zeit Bay field to optimize the gas lift system to increase oil production. The field has produced more than 230 MMbbl of oil to date.

The Ras Fanar field was discovered in 1974. RWE Dea has recovered roughly 114 MMbbl of oil from the field since 1984. The oil is located in geological structures in the Miocene and is being recovered through two unmanned offshore platforms. The platforms are approximately 3.5 km off the coast of the Gulf. The oil reaches land through a pipeline, where it is treated in SUCO facilities before the final treatment at General Petroleum Company process facilities. Each of the platforms is currently being used to operate 13 wells. In 2013, average production from the Ras Fanar field was approximately 4,500 bopd.

RWE Dea plans to drill two additional wells at Ras Fanar and add these to production by 2015.

The production RWE Dea has attained from Ras Budran, the largest of the three fields, amounts to a total of roughly 300 MMbbl of oil to date.

RWE Dea was also granted a 100% share and the operation of the neighboring East Ras Budran Offshore concession. During an initial three-year exploration phase, RWE Dea plans to conduct a 3-D seismic campaign and drill an exploration well. In the event of new discoveries, synergies can be exploited with the existing production facilities in the Ras Budran field to rapidly and efficiently develop the new field.

06/05/2014

 

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