TAG Oil accelerates the development of its oil field in Egypt

TAG Oil announces progress at its BED-1 site in Egypt, with stable production, new drilling planned for 2025, and a partnership strategy to optimize operations.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

TAG Oil Ltd., a Canadian company specializing in oil exploration and production, has shared a significant update regarding its operations at the BED-1 oil field located in Egypt’s Western Desert. This initiative marks a key step in the development of the Abu Roash “F” (ARF) unconventional carbonate reservoir.

The horizontal well BED4-T100 (“T100”) continues to produce an average of 100 barrels of oil per day (BOPD) through a rod pumping system. In less than 90 days, cumulative production has exceeded 20,000 barrels. Simultaneously, TAG Oil resumed production from the vertical well BED 1-7 in December, achieving approximately 40 BOPD through natural flow. The installation of a rod pump and surface facilities is expected to further optimize production in the coming weeks, with cumulative volumes already reaching 10,000 barrels.

Logistics optimization and cost reduction

To improve netback margins per barrel, TAG Oil has initiated efforts to optimize the treatment of medium-grade crude oil and ensure regular deliveries. These adjustments, combined with cost reductions, will enhance profitability at the T100 and BED 1-7 wells.

Development projects for 2025

In 2025, TAG Oil plans to drill a vertical well in the second quarter in a highly fractured area of the ARF formation. The goal is to exploit potentially significant initial oil volumes. Concurrently, a second horizontal well is scheduled for the fourth quarter of 2025, further consolidating the site’s development activities.

Financial strategies and partnerships

The company has signed engagement agreements with strategic partners, including PillarFour Capital and LAB Energy Advisors, to diversify its funding and accelerate asset development. One key initiative includes the sale of royalty interests in New Zealand, intended to strengthen the company’s financial position.

TAG Oil is also pursuing the acquisition of a new concession covering 2,000 square kilometers in Egypt’s Western Desert. Additional announcements will be made upon receiving official approval.

TAG Oil’s Executive Chairman and CEO, Abby Badwi, stated: “The combination of recent financings, operational improvements, and strategic partnerships will multiply activities and accelerate the development of our assets in Egypt.”

Khartoum et Juba annoncent un mécanisme commun pour protéger les oléoducs transfrontaliers, sans clarifier le rôle des forces armées non étatiques qui contrôlent une partie des installations.
The Namibian government signed an agreement with McDermott to strengthen local skills in offshore engineering and operations, aiming to increase oil sector local content to 15% by 2030.
Nigeria deploys a 2.2 million-barrel floating storage unit funded by public investment, strengthening sovereignty over oil exports and reducing losses from theft and infrastructure failures.
Despite open statements of dialogue, the federal government maintains an ambiguous regulatory framework that hinders interprovincial oil projects, leaving the industry in doubt.
Canada’s Sintana Energy acquires Challenger Energy in a $61mn all-share deal, targeting offshore exploration in Namibia and Uruguay. The move highlights growing consolidation among independent oil exploration firms.
The 120,000-barrel-per-day catalytic cracking unit at the Beaumont site resumed operations after an unexpected shutdown caused by a technical incident earlier in the week.
An agreement was reached between Khartoum and Juba to protect key oil installations, as ongoing armed conflict continues to threaten crude flows vital to both economies.
Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
Import quotas exhaustion and falling demand push Chinese independent refineries to sharply reduce Iranian crude volumes, affecting supply levels and putting downward pressure on prices.
Serbian oil company NIS, partially owned by Gazprom, faces newly enforced US sanctions after a nine-month reprieve, testing the country's fuel supply chain.
US-based Chevron appoints Kevin McLachlan, a veteran of TotalEnergies, as its global head of exploration, in a strategic move targeting Nigeria, Angola and Namibia.
Lycos Energy finalises the sale of its Alberta assets for $60mn, planning an immediate $47.9mn cash distribution to shareholders and the launch of a share buyback programme.
Russian oil output moved closer to its OPEC+ allocation in September, with a steady rise confirmed by Deputy Prime Minister Alexander Novak.
Fuel shortages now affect Bamako, struck in turn by a jihadist blockade targeting petroleum flows from Ivorian and Senegalese ports, severely disrupting national logistics.
McDermott has signed a memorandum of understanding with PETROFUND to launch technical training programmes aimed at strengthening local skills in Namibia’s oil and gas sector.
The example of OML 17 highlights the success of an African-led oil production model based on local accountability, strengthening Nigeria’s position in public energy investment.
ExxonMobil has signed a memorandum of understanding with the Iraqi government to develop the Majnoon oil field, marking its return to the country after a two-year absence.
Crude prices rose following the decision by the Organization of the Petroleum Exporting Countries and its allies to increase production only marginally in November, despite ongoing signs of oversupply.
Cenovus Energy modifies terms of its acquisition of MEG Energy by increasing the offer value and adjusting the cash-share split, while reporting record third-quarter results.
Hungarian oil group MOL and Croatian operator JANAF are negotiating an extension of their crude transport agreement as the region seeks to reduce reliance on Russian oil.

All the latest energy news, all the time

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.