East Damanhur Exploration Discovery

Cheiron is pleased to announce a gas discovery in the ED-2X well drilled on the East Damanhur Concession, onshore in the Nile Delta.  Cheiron acquired a 40% working interest in the block in October 2020 through an exploration farm-in and the other owners are the Wintershall Dea (the operator, with a 40% working interest) and INA (20% working interest).

The exploration activities under the new Concession Agreement commenced in November 2021 and the new gas discovery was made with the second exploration well to be drilled as part of a multi well campaign.

The ED-2X well encountered 43 meters of gas bearing reservoir with a gas-water contact at 2627 meters and has been successfully flow tested at a rate of 15 million standard cubic feet per day.

The well was drilled around three kilometers north of the existing Disouq field, which is also operated by Wintershall Dea, and have spare gas processing and export capacity. The partnership is currently evaluating options to tie-back the ED-2X well to the facilities on a fast-tracked development schedule.