The Drover-1 exploration well will now be decommissioned and rehabilitated back to its pre-existing state, according to AWE.
The results confirmed initial results from the Senecio-3 discovery well, according to AWE Ltd.
Results confirmed the reservoir model and proved the presence of hydrocarbon columns and fluid contacts similar to those of the Alta discovery well, located 10 to 20 km northeast of Lundin Petroleum’s Gohta discovery in Barents Sea South, a news release said.
Providence Resources and Europa Oil & Gas are among the companies that have identified prospects, but success has not been had by all in the in past.
The partners said they intend to submit a proposed outline of the development plan for reservoir to the government of Cyprus.
Independent assessment of Horse Hill well has estimated there could be about 271 million barrels of oil per square mile. The prior estimate in April of 158 million, Bloomberg said.
The well encountered oil in a 173-m gross reservoir interval which is interpreted to be Triassic-age Lunde Formation with low reservoir quality and poor production characteristics, according to a news release.
During the current campaign, the Qugruk 8 (Q-8) well flowed 30 degree API gravity crude at rates of up to 2,160 barrels of oil per day (bbl/d), and the Qugruk 301 (Q-301) horizontal well yielded rates as high as 4,600 bbl/d, Repsol said in the release.
The Melbourne-based junior’s profile was raised recently with the first offshore Senegal discovery in 20 years. Managing Director Cath Norman explains the significance of the discovery and where the company can go from here.
Well 7324/8-2was drilled about 6 km southeast of oil discovery 7324/8-1 "Wisting" in the Barents Sea. The well is also 310 km north of Hammerfest.
AWE could commercialize new sources of gas in Western Australia’s Perth Basin by mid next year after discovering an estimated 149 billion cubic feet of gas at the Irwin and Synaphea structures.
JIP research focuses on deepwater sampling systems, subsea sensors and subsea clamp-on meters.