DRILLING

Beibu partners spud appraisal well

The Beibu Gulf partners have spudded the appraisal well on their Wei 12-8-2 discovery well, in the Beibu Gulf, South China Sea.

Beibu partners spud appraisal well

The Wei 12-8-3 appraisal well is in approximately 33 m of water and lies 800 m north of the original discovery.

The well will be plugged and abandoned at the conclusion of drilling no metter what the outcome. Drilling is expected to take up to 14 days to drill, core, log and fully evaluate, including the acquisition of a 3D VSP seismic survey, to a planned total depth of approximately 1,311 m.

The primary objectives of the Wei 12-8-3 well are to confirm structural configuration of the reservoir and to accurately determine oil properties, particularly viscosity, in order to optimize well planning for a potential field development.

Partner Horizon Oil said on the basis of expected viscosity and other parameters, consultant RISC Pty Ltd estimates technically recoverable reserves for the 12-8 East field of 27 mmbo. A secondary objective is to test a deeper target near basement level, which displays a seismic amplitude anomaly.

The 12-8 East (12-8-2) field was discovered by CNOOC in 1994. The well encountered an 8 m oil column in the Miocene Jiaowei sands at a depth of 930 m. A production test flowed 2,355 bopd of 21 degree API oil. Reservoir quality is excellent, with permeability in excess of one Darcy. The structure is a simple four-way dip closure with reservoir draped over a basement high.

Interests are Horizon Oil Limited (HZN) 30%, Roc Oil (China) Company (ROC) 40% (Operator), Petsec Petroleum Incorporated (PSA) 25%, Oil Australia Pty Limited (FAR) 5%.

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