Reservoir characteristics, including porosity, are comparable to producing fields in the region, and there is no oil-water contact in the section logged, operator Arar Oil & Gas told Eureka.
At midnight, December 17, Eastern European time, the well was waiting on cement to set after a remedial cement job to seal the base of the seven-inch casing prior to flow testing.
Swabbing operations to test the 41m interval of fractured Garzan Formation carbonates between 1211m and 1252m (total depth) were terminated when water from an overlying formation was found to be entering the well bore from behind the casing.
After wireline logging, remedial re-cementing of the casing was carried out and at midnight the crew was waiting on cement to set. If pressure tests show remedial cementing is successful, the well will be cleaned out and the reservoir section flow tested.
The results of flow testing will be reported as they become available.
Eureka has acquired farm-in rights to earn a 20% interest together with an option to increase its interest to 45%, in two adjoining exploration licences covering about 500 square kilometres in southeast Turkey.
This project is known as the Bismil Project. The Koyunlu-1 well is the first of two farm-in wells to be drilled in the licences.
The licences are owned and operated by Arar, a Turkish exploration and production company with a drilling and oil field operations arm. Arar has extensive experience in drilling and completion of oil wells in southeast Turkey, and has offices in Ankara, Turkey and in Houston, Texas.
The Koyunlu-1 well is about 17km south of the West Raman oil field (original oil in-place 1.5 billion barrels) in southeast Turkey’s major oil-producing region.
It was located to test the eastern portion of a structure with similarities to the West Raman and Raman field structures. The target reservoirs are in the formation that host oil in the nearby Raman fields and numerous other oil fields in the region.
The oil recovered from the Garzan Formation in the Raman fields is relatively heavy (13-18 API gravity) and the oil at Koyunlu-1 is likely to be similar. This oil is readily saleable at a small discount to standard Middle Eastern crude prices.
The structure could hold recoverable reserves of between 2 million barrels (MMbbl) and 204MMbbl (31MMbbl P50). The wide range in reserve potential reflects the relatively poor seismic control of the host structure.
Turkey’s Petroleum Act is comparable to those of the Australian states, according to Eureka. Turkish Government royalty on petroleum production is 12.5%, while company tax is 20%.
