Author: Inktank

Romania Assets Extensions Approved

On 22 December 2016, Romanian National Agency for Mineral Resources (NAMR) approved extensions for our Oporelu, Cosminele, Chislaz and Cosesti fields for three and a half years until 2020.…

Plans Underway to Commence Drilling of the GC-8B well targeting the Kareem reservoir at the Group’s Geisum and Tawila West Concession

Located at the southern entrance of the Gulf of Suez, the Geisum field is part of the Group’s Geisum and Tawila West Concession covering also the North Geisum, South Geisum, Northeast Geisum and Tawila West fields. In December 2016, the company laid the groundwork to commence drilling of the GC-8B well targeting the Kareem reservoir with an expected additional reserves of 0.5 MMbbls.…

Three New Managing Directors Appointed to JOCs

In line with previous restructuring efforts, PICO Cheiron appointed three new Managing Directors at our Joint Operating Companies. The new directors bring in a wealth of international experience to their respective companies.  Mr. Hamed Ibrahim Abdel Karim has been appointed Managing Director of PetroGulf, bringing with him 36 years of oil and gas experience. With previous experience at Gupco and Haliburton, Mr. Abdel Karim joined PICO in 2006 as Exploration Manager, before becoming Managing Director of Gempetco. Mr. Ihab Girgis…

PICO Cheiron Signs SPA for West El Burullus Concession

PICO Cheiron Group signed a sale and purchase agreement for the West El Burullus Concession in August 2016, subject to the completion of a number of requirements. West El Burullus is a shallow-water gas Development Lease located in the western part of the Nile Delta Basin, next to major producing fields such as the Rosetta Gas Field (25 km to the northeast). The concession is expected to add some 192 bcf to PICO Cheiron’s reserve base.…

PICO Cheiron Signs SPA for North Baharya Concession

PICO Cheiron Group signed a share purchase agreement for the North Baharya Concession in August 2016, subject to the completion of a number of requirements. The North Baharya block is located in the Western Desert over an eastern extension of the Abu Gharadig Basin and is in close proximity to the East Baharya Block. It covers an area of c.117 sqkm and contains six producing oilfields: Abrar, Ferdaus, Ganna, Rawda, Sidra and Rayan. The concession is expected to add approximately 33…

Iain Knott Appointed Technical Manager

PICO Cheiron is pleased to announce the appointment of leading international oil and gas expert Mr. Iain Knott as Technical Manager.  With 31 years in the oil and gas industry, Mr. Knott has developed strong technical and commercial competencies across a range of upstream and downstream disciplines, including exploration, field development, new ventures, project management, and gas storage. Mr. Knott spent most of his career working at various firms in the UK, such as BG Group, Burlington Resources, Elixir Petroleum,…

Geisum Successfully Drills GC-9A

The Geisum well was successfully spudded on 7 June 2016 and was put into production on 16 July 2016. The well target reservoir is Shagar, its initial flow rate is 1223 mbopd, and reserve addition is 0.75 MMbbls.…

PICO Cheiron Successfully Drills Am 18 Sidetrack Well at its Amal Field

As part of the Group’s strive to continuously grow its working interest production, in March 2016 PICO Cheiron successfully drilled the Am 18 sidetrack well targeting the Rudeis reservoir in the Amal concession. The well results were successful with an initial flow rate of 7 MMscf/day of gas and 400 bbls/day of condensate and expected additional reserves of 6 BCF.…

International Consultants Hired to Refresh Prospect Inventory

International consultants from Berskshire Land and Energy have been hired to take a fresh look at the Group’s current portfolio and build up our prospect inventory.  PICO Cheiron brings in consultants with international expertise every two years, with the aim of taking a fresh look at our assets and to make sure we are driving the maximum value from them.…