Contractor spoils Pancon�s Mediterranean trip

Pancontinental Oil and Gas (Pancon) has been forced to postpone 260 km of 2-D seismic offshore Malta for two months due to the contractor’s vessel remaining in dry dock for repairs, although the company is investigating the availability of other suitable survey vessels to carry out this work prior to August.
Contractor spoils Pancon’s Mediterranean trip Contractor spoils Pancon’s Mediterranean trip Contractor spoils Pancon’s Mediterranean trip Contractor spoils Pancon’s Mediterranean trip Contractor spoils Pancon’s Mediterranean trip

The aim of the seismic program is to further delineate the extent and nature of large stacked Lower Cretaceous to Eocene age reefal mound structures that have been previously confirmed by Afrex-Pancon’s earlier reconnaissance 2D seismic survey. The new seismic data will be processed and interpreted over the next 3 months to determine the prospectivity of those targets.

Existing seismic data suggests the presence of large individual target structures which are currently mapped to be 70 square kilometres in areal extent, and ranging from 500 to 700 metres in thickness, giving large potential volume traps for hydrocarbon accumulations.

Similar stacked reef mounds in adjacent Tunisian and Libyan waters are prolific producers of both oil and gas and the major fields, such as Bouri in Libya with reported reserves of 2,500 million barrels of oil recoverable and 1.9 trillion cubic feet of gas recoverable.

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