Rockhopper is “consistently” producing 3k bbl/d at its new well ASH-2 well in its Abu Sennan concession in the Western Desert, United Oil & Gas said in a filing to the London Stock Exchange. United Oil, which will soon acquire Rockhopper Egypt’s 22% non-operating stake in the field as part of its USD 16 mn purchase of its Egypt portfolio, said the results confirm the asset’s “considerable upside potential.” A deed of acquisition, signed by Rockhopper on 9 January, is currently with the EGPC pending final approval, the filing notes.
More from Enterprise
The CBE is taking a tougher stance on regulation
Last summer, HSBC paid the CBE a EGP 1.4 bn…
Farmers aren’t borrowing to survive anymore — they’re investing
Medium-term loans rose more than 1k% to EGP 22.6 bn…
The GCC IPO party took a breather in 2025
The region recorded 40 IPOs during the year, down from…
Valu gets regulatory green light to start operations in Jordan
Former Jordanian Investment Minister Mothanna Gharaibeh will serve as chairman…