WASCO Strikes Gold: Abandoned Well Yields 5 Million Cubic Feet Daily, Adds $4B to Reserves
In a remarkable turnaround that defies industry expectations, El Wastani Petroleum Company (WASCO) has successfully revived the Balsam-3 well that was previously slated for permanent abandonment. The well is now producing approximately 5 million standard cubic feet of gas per day, while adding a staggering 4 billion cubic feet of natural gas to the company’s reserves.
The breakthrough came after WASCO’s technical team conducted an extensive study of the Kafr El Sheikh formation, despite facing significant challenges including limited data and the absence of wireline logs. Using advanced seismic analysis and gas ratio indicators during drilling, they identified a promising zone within the shallow Kafr El Sheikh formation’s Pliocene epoch.
This achievement marks WASCO’s second major success in a single month, following their successful drilling of the Begonia-2 appraisal well onshore the Nile Delta, which yielded around 7 million standard cubic feet per day and approximately 200 barrels of condensate. The success aligns with Egypt’s Ministry of Petroleum and Mineral Resources’ strategy to maximize local production using low-cost, high-impact solutions for mature fields.
WASCO, operating as Dana Gas’ joint venture in Egypt, continues to lead petroleum exploration and production efforts focused on maximizing output and increasing reserves throughout the country.
Source: egyptoil-gas.com
