Horizon Oil China update
Posted: 13 February 2008
Horizon Oil Limited reported that the second well in its exploration drilling program in Block
22/12, offshore China, the Wei 6-12E-1, spudded at 1200 hrs on 12 February 2008.
The well is
currently drilling ahead in 17½” hole at a depth of 270 mBRT on the way to surface casing
depth of 1,240 m. On a trouble free basis the well should be at total depth of 2,520 mBRT by
around 22 February 2008.
The well, which will test a structural-stratigraphic prospect approximately 1.7 km east of the
Wei 6-12S oil discovery (see map below), is being drilled with the Premium Murmanskaya
jack-up rig.
There was some delay in moving the rig to the Wei 6-12E-1 location because of
bad weather conditions.
The Wei 6-12E-1 well is the second well to be drilled in a program which targets mapped
prospects with aggregate potential in excess of 200 mmb oil-in-place. All prospects have been
defined with 3D seismic.
The third well will appraise the Wei 12-2-1 discovery in the
southwest of the block which tested over 2,000 bopd oil from three separate sands in the Eocene
Liushagang Formation. The location of the fourth well will be dependent on results of the first
three and may have an appraisal / step out objective.
The overall objective of the exploration drilling program is to test the most prospective
remaining structural and stratigraphic anomalies in Block 22/12 in order to establish and retain
extended appraisal / development areas over discoveries prior to scheduled relinquishment of
the residual exploration permit area in late- 2008.
Commercial discoveries which may result from the program are anticipated to represent high
value satellite fields, complementing the 50 - 60 mmbo 2P reserves (200 mmb oil-in-place)
already identified in four fields within Block 22/12, including the Wei 6-12 South and Wei 6-12
discoveries, which are now the subject of reserves certification and development approval
processes.
Good recent progress has been made on both these processes.
The Block 22/12
development concept is to establish a facilities hub with off-take in the Wei 6-12 area and
thereafter tie-in the previously discovered satellite fields to the south and, subject to the
outcome of the current exploration program, new discoveries which should be developed at
relatively low incremental cost.
Posted by Richard Price, Editor, EnergyME.com
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