However, Oilex said it was yet to establish a stabilised oil flow rate even though the well, located in India’s Gujarat state, was now producing less than 10% water. Per barrel of oil, the well is also producing 260 cubic feet of gas, all from the Eocene EP IV interval.
Oilex said it was “very pleased” pleased with the results to date.
“This is a substantial increase in productivity and the information derived from the test will provide an excellent basis for the design of the drilling and completion programs for future EP IV wells to achieve better rates of oil production,” the Perth-based company said.
Drilled last September, Cambay-72 was primarily targeting the potential Oligocene oil reservoir from which good shows of oil were recorded while drilling, and subsequently confirmed by wireline logs.
Indications of oil and gas in poorer quality reservoir were also recorded from the deeper, over-pressured Eocene EP IV interval, currently under test. Oilex said the Oligocene oil reservoir would be tested in due course.
Looking ahead, Oilex plans to monitor the production performance of Cambay-72 until it achieves a stabilised and sustainable flow rate.
As operator, Oilex holds a 45% stake in the Cambay production sharing contract, while Gujarat State Petroleum Corporation owns the remaining 55%.
