SacOil starts field development operations at Lagia oilfield, onshore Egypt

SacOil, through its subsidiary Mena International Petroleum, has started field development operations at its Lagia oilfield in Sinai, onshore Egypt.

Schlumberger Egypt has been selected to carry out an initial phase of development, which includes the hydraulic stimulation of five Lagia wells.

The wells, 6, 7, 8, 9 and 10, will specifically target the intersected productive Nukhul geological formation.

Work started on 4 January 2015 and SacOil expects results from the programme to be available by the end of the month.

The company estimates daily production in the order of 350bpd, subject to the successful completion of all five wells.

A thermal recovery process is being planned for the first half of 2015 to further improve oil production and recovery of the reserves from the Lagia oilfield.

A new phase of drilling operations will commence in June 2015, with up to five new wells planned.

The Lagia oilfield covers an area of around 32km² on the Sinai Peninsula in Egypt.

The field is at a development stage with heavy oil (16°-18° API) in shallow reservoirs and light oil potential in deeper reservoirs.

SacOil owns a portfolio of assets in the oil and gas industry, which includes interests in Malawi, the DRC, Nigeria, Botswana and Mozambique.