Medco completes appraisal well drilling in Lybia
Tuesday, July 1 2014 - 09:58 AM WIB
The first post-revolution drilling project in Lybia is part of a series of appraisal wells drilling program intended to confirm the extent of 10 structures out of 16 structures discovered during pre-Revolution, Medco stated in a press release on Tuesday.
As previously announced, MedcoEnergi and its partners are proceeding with the development project for six discovered structures. The drilling of appraisal well, named P2 of P structure, has encountered two hydrocarbon-bearing zones with a total net pay of 26 feet at Top Lower Acacus and Mamuniyat formations. The P2 well testing conducted at Mamuniyat formation resulted in a gas flow of 6.5 MMSCFD through a 48/64-inch choke.
Lukman Mahfoedz, President Director & CEO MedcoEnergi, said on Tuesday that it would add more oil and gas reserves to the Company from the Libya asset. ?It also demonstrates our strong capability in running E&P operations in overseas, not only in technical capability but also in operation excellence and safety record at site.? Lukman added.
Nafusah Oil Operations B.V, as the Operator of the development project, is currently working on FEED (Front-End Engineering Design) conducted by the Consortium of Taknia Libya Engineering Company (Libya) and Foster Wheeler (UK), for the Phase-1 development of 50,000 BOPD and 50 MMSCFD of oil and gas producing facilities. The facilities will monetize around 250 MMBOE discovered reserves and is slated for its completion in 2017.?
Furthermore, based on the information obtained from this P2 appraisal well, it is highly likely that this P structure is in connection with the H structure that was discovered through exploration well H1 drilled in 2008.
This P-H structure connection resulted in estimated unrisked mean recoverable resources at about 69 MMBOE. Combined with the Top Lower Acacus formation, the recoverable resources can increase to 93 MMBOE, with an upside potential up to 149 MMBOE.
Additionally, MedcoEnergi has successfully completed the 2nd and 3rd appraisal well drillings (A2 and O2 wells) within the planned budget and schedule. The A2 well was spudded-in on 2 April 2014 and reached total depth of 10,600 ft in less than 40 days with strong indications of hydrocarbon presence and the well test is now being prepared.
The O2 well was spudded-in on 23 May 2014 and reached the target depth of 10,780 ft of Mamuniyat formation in only 34 days.
Editing by Benget Besalicto ST