DRILLING

Oman well finds more oil shows: Oilex

AN OMAN joint venture led by Oilex is about to start running wireline logs over its Sarha-1 explo...

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The shows, recorded from 1692m to total depth in the Cambrian Huqf Formation, are in addition to those oil shows and gas readings reported by Oilex in the primary and secondary objectives last week.

The company as operator reported yesterday that the current logging program would evaluate all the anomalous zones encountered by Sarha-1, which is the first in a three-well exploration program in Block 56 using the Abraj Rig 204.

Logging will determine whether any of those zones should be production tested.

Sarha-1 is targeting between 6 million and 40 million barrels of oil resource potential.

Following this well, the JV will drill the Ghadaq-1 well in the western province of conventional plays and Alyanbou-1, in the frontier area on the northern salt wall trend.

Ghadaq-1 is targeting 5-30MMbbls of oil potential, while Alyanbou-1 is aiming at 10-375MMbbls.

Four additional wells are planned for the third quarter of 2008 on locations that will depend on the results from the initial three-well program.

A further four wells will be drilled in late 2008 and the first quarter of 2009.

Oilex holds operatorship and a 25% stake in Block 56, while partners Videocon and GAIL also have 25% each and Hindustan Petroleum and Bharat Petroleum each have a 12.5% stake.

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