(Alliance News) - United Oil & Gas PLC on Wednesday announced the completion of the Ash gas pipeline at its Abu Sennan licence in Egypt, which was successfully brought on-stream on Sunday.
United Oil & Gas has a portfolio of production, development, exploration and appraisal assets in Egypt, Italy, Jamaica, and the UK. It owns a 22% working interest in the licence.
The company said the ASH gas piepline, which links the Ash Field to gas processing facilities at El Salmiya, has delivered over the last two days an average of 5.45 million cubic feet per day of gas, or 1,090 barrels of oil equivalent per day on a gross basis, equating to an additional 1.2 MMcf per day, or 240 boepd net to United's working interest.
United Oil & Gas said these initial flow rates are in line with its expectations and that the pipeline has increased gas recovery rates across the licence.
Chief Executive Brian Larkin said: "Since United entered the Abu Sennan licence, the joint venture partners have made excellent progress in increasing production, not just through drilling activity but also through low capital expenditure on infrastructure development. We look forward to further progress in 2021 with the recommencement of drilling activities, starting with the Ash-3 development well."
Shares in United Oil & Gas were up 3.3% at 3.00 pence in London on Wednesday.
By Zoe Wickens; zoewickens@alliancenews.com
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United Oil&gas (UOG)