Global Natural Resources oil discovery in Egypt flows 3,700 barrels per day.HOUSTON--(BUSINESS WIRE)--Oct. 1, 1996--Global Natural Resources Inc. (NYSE NYSE See: New York Stock Exchange :GNR GNR Gram-negative rods Infectious disease Bacilli that don't absorb gram stain–ie, are pink; most clinically important GNRs are coliforms: Enterobacteriaceae–eg, Escherichia, Klebsiella, Proteus, Pseudomonas, Salmonella, Shigella ) today announced an oil discovery in its Qarun Concession in Egypt's Western Desert. The SW Qarun-1X (formerly the C-1X) tested at a rate of 3,700 barrels of oil per day from a combined 180 feet of net pay in two separate formations, the Kharita and the Lower Bahariya. An additional 103 feet of indicated net pay in the Lower and Upper Bahariya will be tested at a later date. The new field will be known as SW Qarun. The Kharita zone flowed at a daily rate of 2,600 barrels of 40 API gravity The American Petroleum Institute gravity, or API gravity, is a measure of how heavy or light a petroleum liquid is compared to water. If its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks. oil. It was tested on a one-inch choke with 58 pounds per square inch Noun 1. pounds per square inch - a unit of pressure psi pressure unit - a unit measuring force per unit area (psi) of flowing tubing pressure from perforations between 9,933 feet and 9,953 feet. The Lower Bahariya zone flowed at a daily rate of 1,100 barrels of 36 API gravity oil. It was tested on a one-inch choke with a flowing tubing pressure of 44 psi. Production is from 73 feet of perforations between 9,160 feet and 9,350 feet. As scheduled, oil from the Qarun Concession began flowing into permanent production facilities last week and is now being transported through Global's recently completed pipeline to two 350,000 barrel storage tanks, located approximately 30 miles to the east. Sales should begin in November once the tanks are filled. The SW Qarun field discovery is expected to be connected to this pipeline in a matter of weeks. The Qarun Field has been onstream since November 1995 under an early production arrangement whereby the oil has been transported by truck to a local refinery, and is currently producing approximately 16,000 barrels of oil per day. Overall production from the concession is expected to increase to an estimated 40,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. by year end as additional field wells, along with the new field discovery, are tied in to the existing production facilities and pipeline. Global owns 25 percent of the contractor interest in the Qarun Concession. Apache Apache (əpăch`ē), Native North Americans of the Southwest composed of six culturally related groups. They speak a language that has various dialects and belongs to the Athabascan branch of the Nadene linguistic stock (see Native American Corp. (NYSE:APA (All Points Addressable) Refers to an array (bitmapped screen, matrix, etc.) in which all bits or cells can be individually manipulated. APA - Application Portability Architecture ) owns the remaining 75 percent. The Qarun Concession is operated by Qarun Petroleum Co., an Egyptian corporation owned jointly by the contractors and the Egyptian General Petroleum Corp., the national oil company. Global Natural Resources is engaged in worldwide oil and gas exploration and production and in natural gas gathering, processing and marketing. The company has operations and interests in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ; Egypt; Cote d'Ivoire; Tatarstan, Russia; Indonesia; and Malaysia. CONTACT: Global Natural Resources Inc., Houston Robert F. Vagt or Gerald R. Colley, 713/880-5464 |
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