Oman’s Tibat-1 offshore exploration well, operated by Novus Petroleum Ltd, has reached a final Total Depth (TD) of 3,097 meters below rotary table (brt), which is some 250 meters deeper than originally planned TD. The Australian oil and gas exploration company anticipates initial testing results for Tibat-1 in two weeks time.
Drilled by the Transocean jackup Interocean III, the operation is targeting Cretaceous age limestone reservoirs, similar to those already producing in the nearby Bukha Field, also operated by Novus. The Tibat prospect is 100 billion cubic feet (bcf) of gas and condensate, near producing infrastructure with an accessible gas market, according to a company press release.
Electric logging operations of the 6-inch hole section were completed on December 29 on the basis of which the joint venture has decided to run 5-inch liner and carry out a testing program of the reservoir section. Details of the testing program will not be finalized until the electric logs and other data have been fully interpreted.
The participants in the Tibat-1 well are Novus Petroleum (operator) 40 percent, Atlantis Holding Norway A/S 25 percent, Eagle Energy (Oman) Limited 10 percent, LG International Corporation 25 percent.
Novus has properties in Oman and Qatar, with reserves on production in the former. With the grant of Blocks 15 and 47 in Oman, Novus has become the second largest acreage holder in the country after state-owned Petroleum Development Oman (PDO).
The West Bukha field lies in Omani waters and extends across the median line into Iran where it is known as the Hengam field. In Qatar, Novus has an interest in the Najwat Najem field, which was discovered by Shell in 1976. The field has certified reserves of 12 million barrels of oil. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
