Roc Oil (China) Company, a wholly owned subsidiary of ROC, advises that the Wei 6-12W-1 exploration well in Block 22/12 in the Beibu Gulf, offshore China, has drilled to a Total Depth of 2,333 mBRT and wireline logging has been completed. Drilling and log data indicate that Wei 6-12W-1 well has not encountered any hydrocarbons and the well has been plugged and abandoned.
Later this week, the Premium Murmanskaya jack-up drilling rig will commence drilling Wei 6-12E-1, the second well in the three well drilling program, which will test a structural-stratigraphic prospect 1.7 kilometres east of the Wei 6-12S-1 oil discovery.
Commenting on the Wei-6-12W-1 drilling results, Dr John Doran, ROC's Chief Executive Officer, stated that: "As stated at the beginning of the well, although stratigraphic traps can offer high reward they invariably carry increased risk. In this case, the risk won over the reward."
Participating Interests in the Block 22/12 Joint Venture are Roc Oil (China) as the operator with 40%, Horizon Oil with 30%, Petsec Petroleum with 25% and Oil Australia with 5%.
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