Neptune Energy, an independent global E&P company, announced on Wednesday that drilling operations have begun at its operated Yakoot exploration well, located in the North West El Amal Concession in the southern Gulf of Suez, Egypt.

The operation is being carried out with the ADM-8 rig, operated by ADES, and has a final target depth of around 3,600 metres, the company said in a press statement, adding that It is it is the first operated well to be drilled by Neptune in Egypt.

Neptune was awarded the exploration licence for the North West El Amal Concession in February 2019, and acquired advanced 3D seismic data in 2020.

Neptune Energy’s Managing Director in Egypt, Alexandra Thomas, said: “Drilling the Yakoot prospect is a significant milestone for Neptune in Egypt and we are grateful for the support of the Egyptian Petroleum Ministry and the Egyptian General Petroleum Corporation (EGPC). 

“After many months of careful preparation, working closely with our stakeholders and partners, we are fully focused on safely drilling this strategically important well.”

The North West El Amal offshore concession covers 365 km2 and is located approximately 42 kilometres south-east of Ras Gharib and 105 kilometres north-west of Hurghada. Neptune Energy has operations across Europe, North Africa and Asia, and produced 135,000 net barrels of oil equivalent per day in 2022.

(Reporting by SA Kader; Editing by Anoop Menon)
(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.