Electro Silica acquires 50 percent of Norwegian stake in Omani gas project
UK-based Electro Silica Group has acquired 50 percent of Atlantis Holding Norway’s interests in the Oman block 40, covering some 12,000 square kilometers in the southern Arabian Gulf. Drilling will start in September 2003.
Atlantis estimates that the block could contain unrisked recoverable reserves of between 150 and 200 billion cubic feet equivalent (bcf), with a condensate gas ratio in the order of 40 bbls/mmcf. The depth to the top reservoir in the Salama is prognosed at around 5,000 feet, with structural closure mapped to be approximately 16 square kilometers. Combined reserves of the three follow-on, analogue prospects offer the potential for an additional 500+ Bcfr. The total reserve potential could be in excess of 1.5 tcf recoverable.
The project involving the supply of gas from Qatar's North Field is designed to meet much of the existing and anticipated gas demand. Atlantis has already done the exploration: seismic database includes some 4,000 kms of data in 10 separate survey areas over its licenses, including Block 40.
Analysis show that 12 wells have been drilled on valid closures. Of these, all are discoveries equating to an unprecedented 100 percent success rate. Seven of these discoveries are now in production. Five are under development, or being considered for development. — (menareport.com)
© 2003 Mena Report (www.menareport.com)