SUBSCRIBE
PROFILE

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:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90$/month

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99$/year

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sign up for free to unlock this article

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.”

  • Popular on energynews.pro
Sion Power launches ultra-thin lithium-metal anode with 2-micron vacuum deposition
Independent producers generated $563bn in US GDP in 2024
Gibson Energy renews share buyback programme for 12 months
US crude oil stocks rise by 3.9 million barrels
AquaVentus and Hydrogen Scotland partner on North Sea hydrogen production corridor
Syrian tanker docks in Trieste, first crude delivery in 14 years
A Syrian vessel carrying 640,000 barrels of crude has docked in Italy, marking the country’s first oil shipment since the civil war began in 2011, amid partial easing of US sanctions.
Canadian exports to China rise on back of expanded TMX pipeline
Canadian crude shipments from the Pacific Coast reached 13.7 million barrels in August, driven by a notable increase in deliveries to China and a drop in flows to the US Gulf Coast.
Oil and gas to remain dominant in global energy mix through 2050
Faced with rising global electricity demand, energy sector leaders are backing an "all-of-the-above" strategy, with oil and gas still expected to supply 50% of global needs by 2050.
UK sanctions 70 tankers to reinforce Russian oil price cap
London has expanded its sanctions against Russia by blacklisting 70 new tankers, striking at the core of Moscow's energy exports and budget revenues.
Iraq and Oman in talks to build new oil pipeline to secure exports to Asia
Iraq is negotiating with Oman to build a pipeline linking Basrah to Omani shores to reduce its dependence on the Strait of Hormuz and stabilise crude exports to Asia.
Vallourec signs $1bn contract with Petrobras for Brazilian offshore operations
French steel tube manufacturer Vallourec has secured a strategic agreement with Petrobras, covering complete offshore well solutions from 2026 to 2029.
IEA warns of 3.3 million barrel oil surplus in 2026
Increased output from Opec+ and non-member producers is expected to create a global oil surplus as early as 2025, putting pressure on crude prices, according to the International Energy Agency.
Petrobras takes 27.5% stake in Block 4 offshore São Tomé with Shell and Galp
The Brazilian company expands its African footprint with a new offshore exploration stake, partnering with Shell and Galp to develop São Tomé and Príncipe’s Block 4.
Drone strikes major Bachneft refinery in Ufa, fire breaks out
A drone attack on a Bachneft oil facility in Ufa sparked a fire with no casualties, temporarily disrupting activity at one of Russia’s largest refineries.
Transatlantic rift over Russian oil reduces Indian volumes in October
The divide between the United States and the European Union over regulations on Russian oil exports to India is causing a drop in scheduled deliveries, as negotiation margins tighten between buyers and sellers.
Russia increases oil exports from western ports by 11% in September
Russia plans to ship 2.1 million barrels per day from its western ports in September, revising exports upward amid lower domestic demand following drone attacks on key refineries.
QatarEnergy secures offshore exploration licence in Congo
QatarEnergy obtained a 35% stake in the Nzombo block, located in deep waters off Congo, under a production sharing contract signed with the Congolese government.
Phillips 66 takes full control of two US refineries for $1.4bn
Phillips 66 acquires Cenovus Energy’s remaining 50% in WRB Refining, strengthening its US market position with two major sites totalling 495,000 barrels per day.
Union strike threatens fuel deliveries from Dangote refinery
Nigeria’s two main oil unions have halted loadings at the Dangote refinery, contesting the rollout of a private logistics fleet that could reshape the sector’s balance.
ReconAfrica secures offshore block in Gabon with production sharing contract
Reconnaissance Energy Africa Ltd. enters Gabonese offshore with a strategic contract on the Ngulu block, expanding its portfolio with immediate production potential and long-term development opportunities.
BW Energy raises $365mn for Maromba FPSO and secures drilling rig
BW Energy has finalised a $365mn financing for the conversion of the Maromba FPSO offshore Brazil and signed a short-term lease for a drilling rig with Minsheng Financial Leasing.
Vantage Drilling signs 260-day contract for the Platinum Explorer
Vantage Drilling has finalised a major commercial agreement for the deployment of the Platinum Explorer, with a 260-day offshore mission starting in Q1 2026.
Permex signs agreement for potential $25mn funding with Chisos
Permex Petroleum has signed a non-binding memorandum of understanding with Chisos Ltd. for potential funding of up to $25mn to develop its oil assets in the Permian Basin.
OPEC+ approves 137,000 barrels/day increase starting in October
OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.
Imperial Petroleum invests in seven vessels despite a 22.8% drop in revenue
Imperial Petroleum expanded its fleet to 19 vessels in the second quarter of 2025, while reporting a decline in revenue due to lower rates in the maritime oil market.

Log in to read this article

You'll also have access to a selection of our best content.