The oil and gas group PA Resources has been awarded shares in an exploration license in Block Q/7 offshore the Netherlands.
PA Resources AB wholly owned UK subsidiary Scotsdale Petroleum has been awarded an exploration licence offshore the Netherlands. The company will hold a 50 percent working interest in Block Q/7. Smart Energy Solutions owns the remaining 50 percent, and is the operator of the license.
This award represents PA Resources' first venture in the Netherlands, an area which has a significant remaining potential, and where we intend to continue to evaluate new opportunities, says Ulrik Jansson, President and CEO at PA Resources.
Block Q/7, which covers approximately 400 square kilometres, includes the Q/7-1 gas discovery, which is estimated to contain between 20 and 40 billion cubic feet of recoverable gas (equivalent to 3.5 - 7.0 million barrels of oil equivalents). The well was drilled by NAM in 1973. It tested 11.5 million cubic standard feet per day (equivalent to 2,000 barrels of oil equivalents) from a 155 feet (35 meters) interval in the Lower Zechstein carbonate sequence. The gas tested from the Zechstein is of high quality, containing only small amounts of inert gas and no hydrogen sulphide. Gas was also encountered in the underlying Rotliegend sand formation.
In addition to the gas accumulation in the block, a number of undrilled leads at potential reservoir horizons have been mapped, and will be further evaluated. The work programme for the near future includes reprocessing of the existing seismic data base and remapping of the acreage.
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