Output of 2 North Ras Qattara wells above expectations: IPR

CAIRO – 5 June 2017: Texas-based IPR Energy Group announced success of drilling NRQ-11X and NRQ-9-2 wells in the North Ras Qattara concession in the Western Desert at 715 and 3,700 barrels of oil per day, the company said Monday.

IPR added in a statement that both wells were drilled below budget estimates and put on the production map, bringing an output 60 percent than expected, standing at 4,100 barrels of oil per day.

“The encouraging outcome of the first quarter results has prompted expanded drilling plans in the near term, along with eventual monetizing of the deep Jurassic gas condensate discoveries in NRQ-3151 and NRQ-8X,” the company said.

IPR plans to work in 4 areas in its concessions in Western Desert, Nile Delta, Gulf of Suez, and Eastern Desert Nile Valley over the next 12 months.

In 2017, IPR said in plans to drill 23 wells, to be one of its most eventful years since it acquired the assets of Phillips Petroleum Western Desert in 1993.