Statoil completes well in Egypt

Statoil has completed the Kiwi well in Egypt’s El Dabaa License (Block 9) this week and the Discoverer Americas drillship will head back to the US Gulf of Mexico shortly. The exploration well targeted the Kiwi prospect located in the Mediterranean west of the Nile Delta, with a water depth of approximately 2700m at the drill site. After extensive logging performed in the well, preliminary results show that the well is dry. Offshore operations were accomplished safely and the results of the well will now be further analyzed and incorporated into the understanding of the area before any new decisions about the acreage are made. Statoil is the operator, holding 80% equity in the license, while Sonatrach International Petroleum E&P, a wholly owned subsidiary of the Algerian state Oil and Gas company, holds the remaining 20%.

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