LONDON – Sea Dragon Energy has completed a subsurface technical update on the Gamma and Shukheir Bay fields in the shallow-water Shukeir Marine concession in the Gulf of Suez offshore Egypt.
Evaluation is under way to determine their suitability as investment assets. Recently oil production at Shukheir Marine has been averaging 393 b/d from three wells.
Sea Dragon is also in discussions with Egypt’s government over extending the concession for another 10 years.
Last December the company acquired a 12.75% interest in the Gulf of Suez South Ramadan concession. Partners Pico and GPC are presently forming a joint venture company.
Once this process is completed the partners plan to hold technical and management meetings concerning the 2014 work program and budget.