SacOil Holdings Limited, has announce that it has successfully concluded the Lagia Phase 2 development programme, onshore Egypt.

Upon completion the company achieved a production target of 1,000 bpd on the oil field.

The phase 2 of the development program included the installation and commissioning of steam facilities for a thermal recovery process on current production wells, the drilling of five new thermal wells, and the hydraulic stimulation of the five wells.

The five existing wells and the five new thermal wells, began production and at the end of February attained a planned wellhead production rate of 1,000 bpd.

According to the company, the development programme was concluded under budget and encountered no health or safety incidents.

“Our technical team has been pivotal in unlocking value at the Lagia oil field, particularly from the Thebes formation, which for the last 30 years has been explored and evaluated by a number of Independent Oil Companies with very limited success. Our focus moving forward on Lagia will be to optimize production commensurate with the current low oil price environment and to further evaluate and appraise the discovery in the Thebes formation.   Further updates will be announced in due course, as operations progress,” Thabo Kgogo, CEO of SacOil told Energy Egypt.

Anita Fatunji