United Oil & Gas to bring oil well into production

United Oil & Gas has reported that oil flow from a well in Egypt has exceeded expectations, and that it will be brought into production in the coming days.

The Irish company provided an update on the testing of the Al Jahraa-8 (AJ-8) development well in the Abu Sennan concession in Egypt on Monday. The company holds a 22 per cent working interest in the licence, which is operated by Kuwait Energy Egypt.

United Oil & Gas said headline test results exceeded its internal pre-drill expectations.

"The AJ-8 well was expected to flow at good rates, but it is great to have our expectations exceeded with these encouraging initial test rates recorded from the Lower Bahariya," chief executive Brian Larkin said.

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“We will now work with our partners to bring the well on stream in the coming days at a rate which will maximise the long-term production and contribute to our low-cost production base.”

AIM-listed United focuses on low-risk production and development projects in Egypt, Italy, and the UK, and is also exploring in Jamaica.