Transglobe Updates Egypt Operations

Transglobe Energy reports that on its Western Desert – South Ghazalat asset (100% WI) that the SGZ-6X well continued to produce from the Upper Bahariya reservoir at a rate restricted to a field estimated 200 – 250 bopd of light and medium crude to evaluate the well, manage the reservoir and optimize the separation of oil, gas and water.

On its 100% held Eastern Desert asset, the company said there had been no drilling activity in the during Q2 2020, consistent with its revised 2020 budget. Discussions with the joint venture operating partner continued to further reduce operating expenditures. Material operating cost reductions in Egypt require the assistance of the JV partner, the Egyptian General Petroleum Corporation (EGPC).

Despite restrictions on travel, constructive negotiations with EGPC to amend, extend and consolidate the company’s Eastern Desert concession agreements have continued throughout the quarter.

Business continuity plans have been implemented in all of Transglobe’s locations and operations continue as normal. The company has had three reported cases of COVID-19 in its joint venture operating partner in Egypt, which were managed according to established company and local national quarantine guidelines. All three have recovered and returned to work with no onward infection spread reported.