SDX Energy says the SRM-3 appraisal well on the South Ramadan concession in the Gulf of Suez offshore Egypt has found oil.
South Ramadan concession in the Gulf of Suez offshore Egypt
Offshore staff
LONDON – SDX Energy says the SRM-3 appraisal well on the South Ramadan concession in the Gulf of Suez offshore Egypt has found oil.
Operator Pico (SDX has a 12.75% interest) reported encountering 75 ft (23 m) of net conventional oil pay in the main Matulla section target; 20 ft (6.1 m) of net conventional oil pay in the Brown Limestone formation; and a further 15 ft (4.6 m) of net conventional oil pay in the Sudr section.
After the well has been completed in the Matulla section a test will follow to determine whether commercial flow rates are possible.
South Ramadan is 3.1 mi (5 km) southeast of the 550-MMbbl Ramadan oil field, and 3.7 mi (6 km) northwest of the 1.5-Bbbl Morgan field, both of which produce light oil from Lower Cretaceous Nubia sandstones.
