Operational Update For Well CY-DWN 2

Source: www.gulfoilandgas.com 12/30/2008, Location: Europe

Rocksource ASA farmed-in to block CY-DWN-2001/1 in September 2008. The block contains several prospects, including prospectively associated with positive CSEM (Controlled Source Electromagnetic) anomalies. At the time of the Rocksource farm-in three wells were required to be drilled, to complete the first phase work programme and test the block prospectively.

The Oil and Natural Gas Corporation Limited (ONGC) has now notified its joint venture partners in block CY-DWN-2001/1 of the results from the second exploration well, CY-DWN 2. The well was spud on 30 October 2008 by the Transocean Discoverer Seven Seas and reached its target depth on 20 December 2008.

The well was planned and approved by the operator ONGC and Oil India Limited and targeted conventional prospectivity, which had not been tested by a CSEM survey. The well found minor gas shows, but was otherwise dry and will be plugged and abandoned.

The rig will now leave the block to drill one well on separate ONGC acreage before returning to CY-DWN-2001/1 to complete the third and final well of the Phase 1 work programme commitment.

The current cost estimate for the Rocksource share of the full Phase 1 work programme is maintained at USD 20 million.

Rocksource has evaluated the new well data from the first well, CY-DWN 1, and remains very optimistic that there is a low risk CSEM positive prospect, containing considerable volumetric potential, which has yet to be tested by drilling. The Operating Committee well will decide the final location of the third in due course.

The CY-DWN-2001/1 partnership is as follows:
ONGC, 45%
Oil India, 20%
Petrobras, 25%
Rocksource, 10%*
* The assignment of the Rocksource ASA Participating Interest is contingent upon Government approval.


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Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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