Oilex Discovers Oil Shows with Oman Drilling
Oilex Ltd advises that the Sarha-1 exploration well, the first of three exploration wells that will be drilled in a continuous sequence by Oilex in the Block 56 Production Sharing Contract Area, Sultanate of Oman has reached total depth (TD) of 1,890 meters measured depth in the Cambrian Huqf Formation. The current operation is running logs.
During the past week, the well was drilled from 1,692 meters through the Huqf Formation carbonates to TD. A gamma ray and resistivity logging tool was run as part of the bottom-hole assembly near the bit and recorded information as the well was being drilled. Oil shows and anomalous resistivity values were recorded within the Huqf carbonate sequence below 1,645 meters and will be further evaluated by the logging program now in progress.
As reported previously, the primary and secondary objectives penetrated in the Permian to upper part of the Cambrian interval exhibited oil shows and increased gas readings from drill cuttings. All of the anomalous zones encountered will be evaluated by the current logging program to determine whether production testing is warranted.
Oilex serves as operator of the Block 56 Production Sharing Contract with 25% interest. Videocon Industries holds 25%, GAIL holds 25%, Hindustan Petroleum holds 12.5% and Bharat Petroleum holds the remaining 12.5% interest.
- India Seeks to Rework More LNG Contracts Amid Surplus, GAIL Says (Oct 04)
- LNG Price Row Between India, US Crimps Trump's Export Aims (Jun 30)
- India to Use Market Pricing for Part of Future Gas Finds in Complex Fields (Aug 11)
Company: Bharat Petroleum more info
- Top Oil Market Summons Poseidon to US-Mideast Crude Fight (Jul 18)
- Petronet Eyes 2019 Rescue for Nearly Idle $700 Million LNG Plant (Jul 18)
- India BPCL Makes Its First US Oil Purchase, Buys Mars, Poseidon (Jul 17)
Company: Videocon Industries more info
- Sources: Petrobras To Sell 'Junk' Fields As Big Finds Delayed (Jul 05)
- Petrobras' Indian Partners Fight Delay In Troubled Brazil Oil Project (Jul 04)
- India's Videocon Considers Divesting Upstream Assets to Repay Debts (Jun 13)
Company: Hindustan Petroleum more info
- India Refiner HPCL Sees More Scope For Foreign Buys After ONGC Deal (Jul 20)
- India Approves Creation of State Oil Giant in $4.6 Billion Deal (Jul 19)
- Iraq Undercuts Saudi Arabia In Q2 To Grab Top Spot In India Oil Market (Jul 19)
Company: Oilex Ltd more info
- Oilex Looks to up Cambay Stake to 100% (Dec 13)
- Oilex Progressing Work Plan to Unlock Gas Resources in India's Cambay Block (Jun 27)
- Australia's Oilex, Zeta Resources Agree to Terminate Legal Proceedings (Jun 08)