Schlumberger study indicates probable oil reserves at Dover’s Egyptian oil zones
Oilfield services company Schlumberger has completed an extensive, independent Well Evaluation Report of the drilling and electric logging results on Dover Petroleum’s oil zones in the East Wadi Araba. The report on the company’s first well target (EWA- 2X) states unequivocally that there must be oil present at the site.
"The uncertainty of a number of petrophysical parameters may result in a large amount of possible error. However, even the most pessimistic solution still indicates volumes of hydrocarbons and would not alter the findings of this study," said the report.
As no oil was produced during tests on the two dolomite reservoirs in this well, Schlumberger refers to Original Oil In Place (OOIP) under reservoir conditions, rather than Oil Reserves as there are no firm indicators of an oil recovery factor as yet.
"Monte Carlo simulation showed that the mean value of the calculated OOIP of the two reservoirs: Belayim and Thebes is 126.6 and 93.5 million reservoir barrels of oil (MMRBO), respectively. This totals to 220.1 MMRBO".
It is Dover's opinion that Schlumberger's use of these very conservative volumetric values significantly reduces Schlumberger's mean values for oil volumes in place and Dover believes the OOIP to be much greater than calculated and possibly greater than Schlumberger's maximum OOIP calculation of 361.4 MMRBO.
Dover Egypt Joint Venture I is working with the Egyptian General Petroleum Corporation (EGPC), which is a party to the Concession Agreement, to obtain a future drill slot to return and drill beside EWA-2X again, with a step-out well, to confirm commercial oil reserve figures, in addition to evaluating potential production levels from results of drill stem testing.
In addition, Dover will investigate the lower Matullah and Nubia zones, which have not been tested to date. Because of drilling problems these two zones were not investigated in the EWA-2X well even though these zones were a major target. The presence of significant oil columns in the overlying dolomites will significantly enhance the chances of finding oil in these two deeper sandstone reservoirs, which constitute the major oil producing reservoirs in the Gulf of Suez.
Dover Petroleum's wholly owned subsidiary, Dover Petroleum Egypt I has a 56.25 percent interest in Dover Egypt I Joint Venture, which is a party to an Option Agreement entitling that joint venture to acquire 100 percent of the Operator's interest in the East Wadi Araba Concession Agreement. — (menareport.com)
© 2003 Mena Report (www.menareport.com)