Drilling Commences on Brunei Block M
Kulczyk Oil Ventures announced that the Markisa-1 well on Block M in Brunei Darussalam has commenced drilling. Markisa-1 is the second well to be drilled on Block M during 2010 by Kulczyk Oil and its joint venture partners. The first well on Block M, Mawar-1, was cased to total depth in mid-September and suspended pending testing.
The Markisa prospect was identified on the 3D seismic data acquired by the joint venture in 2009. The prospect is a separate undrilled fault compartment identified within the greater Belait Anticline. Given the drilling history within the Belait trend, the Markisa-1 well is considered to be low-to- moderate risk.
Markisa-1 is being drilled as a deviated well to test a sandstone reservoir that produced oil in the 1920's and early 1930s in an adjacent fault block. The well will also evaluate several secondary targets within the Miocene Belait Formation and is expected to intersect the main Belait thrust fault. The well is designed to a total depth of approximately 1,335 meters.
The well is being drilled by the MB Century Rig 104 and is expected to take approximately 28 days to drill and evaluate on a trouble free basis. In the case of a discovery, the well is likely to be suspended pending testing by another rig designed for that purpose. The well is located 30 kilometres south of the giant Seria oil field and the facilities in that area which include an oil refinery and terminal and the Brunei liquefied natural gas (LNG) facility.
The partners in Brunei Block M and in the Markisa-1 well are KOV Borneo Limited (36%), Tap Energy (Borneo) Pty Ltd (39%), China Sino Oil Co. Ltd. (21%) and Jana Corporation Sdn Bhd (4%). KOV Borneo Limited is an indirect wholly-owned subsidiary of Kulczyk Oil. The Markisa-1 exploratory well is the second of a minimum of three wells to be drilled on Block M by Kulczyk Oil and its joint venture partners in Block M during the Phase 1 exploration period ending in August 2011.
Kulczyk Oil Brunei Limited, another indirect wholly-owned subsidiary of Kulczyk Oil, has a 40% interest in Block L to the north of Block M. The first well on Block L, Lukut-1, was drilled to total depth and suspended in mid-June pending testing by a service rig. A second Block L well, Lempuyang-1, commenced drilling operations on July 15 and is currently drilling.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension