document: By H2 2019, the Siwa Petroleum Company (Siwa Petco) had been awarded a development lease (DL) across the Siwa X 1X discovery. The DL has been carved out of the Siwa PSC, located in the under-explored southern part of the Faghur Basin. Siwa X 1X was spudded in December 2018 and is understood to have tested at 5,200 bo/d from the Carboniferous Desouqy Formation, after reaching 4,698m TD (4,724m PTD) in the same interval. Operations were carried out using the Egyptian Drilling Company #54 rig. The well was drilled just ~2.3km NW from Eni's July 2018 South West Meleiha B 1X oil discovery in the same formation, on the adjacent South West Meleiha concession. Equity in the Siwa Petco consortium is split between Apache (16.7%), Sinopec (8.3%), Tharwa (25%) and EGPC (50%, carried).<P />
summary: By H2 2019, the Siwa Petroleum Company (Siwa Petco) had been awarded a development lease (DL) across the Siwa X 1X discovery.