Report summaryThe North West Gharib fields are located in the Eastern Desert, on the west coast of the Gulf of Suez. TransGlobe Energy holds 100% equity in the concession which surrounds their core producing asset, West Gharib. TransGlobe was awarded an initial exploration licence for North West Gharib in 2013. The NWG-1X well, drilled in 2014, confirmed the extension of the oil-bearing Nukhul reservoir of the Arta field, into the North West Gharib concession. The majority of exploration on North West Gharib thus far has consisted of step-out wells on the Arta and East Arta fields. We have assumed that the operator will bring production from Arta and East Arta onstream in 2016 with minimal investment. The operator has however cut back its investment plans for 2015 significantly which could impact the timing of first production.
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