Oil Search, Arc get some encouragement in Yemen

OIL Search has received some good news from its Al Magrabah-1 exploration well in Yemen in the form of oil and gas shows while drilling in the Lower Nayfa section.

The company said that the significance of the shows would be evaluated during the next wireline logging program.

Oil Search had faced early disappointment at the well after an intermediate logging run over Qishn Clastics, the primary target, failed to find any hydrocarbons.

Participants in Block 35 are operator Oil Search (Yemen) (34.2105%), Virgin Resources (39.4737%), Arc Energy (15.7895%), and MND Exploration and Production (10.5263%).

Meanwhile, the company is running-in its Kutubu-2 well in Papua New Guinea to optimise mud weight prior to drilling.

This comes about after hole remediation was carried out on the well followed by the setting of four cement plugs. Current depth is 1766m.

Participants in Kutubu-2 are Oil Search (operator with a 72.52% stake), Ampolex (18.73%) and Merlin (8.75%).

It has also drilling the Juha-4 sidetrack well ahead to a depth of 1605m. The well is targeting the Toro reservoir at a depth of about 3200m.

Oil Search is operator with a 31.5% stake in Juha-4, while ExxonMobil holds a 56% interest and Merlin Petroleum has 12.5%.

In Egypt, operator Sipetrol International is drilling the Rana-1 exploration well ahead at a depth of 2776m.

Oil Search holds a 49.5% interest in Rana-1 while Sipetrol has 50.5%.


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