Nautical Nabs 3D Seismic, OBC Surveys for Mariner Discoveries

Nautical Petroleum has announced that a 3D seismic survey and ocean bottom cable (OBC) survey have been acquired over the Mariner and East Mariner discoveries and the surrounding blocks.

These seismic surveys are designed to better define the distribution of the shallow Heimdal Sandstone. This reservoir has been penetrated by 16 wells and has flowed up to 1840 bopd on drill stem test. StatoilHydro, the new Operator of Mariner and East Mariner, has successfully utilized these methods to map and characterize the Heimdal Reservoir in the Grane Field, Norway (which currently produces ca 200,000 bopd of heavy oil).

The acquisitions represent the first major operational activity over the Mariner area since the Extended Well test in 1997 (which produced 663,000 barrels of oil at an average of 10,000 bopd from the Maureen Sandstone reservoir) and represents a significant step forward towards the planned submission of the field development plan in mid 2010.

PGS acquired 115 square kilometers of full coverage 3D seismic with the survey extending over blocks 9/11a (Mariner) and 9/11b + 9/12c (Mariner East), and partly into block 9/11c (Nautical Operated). The survey was completed on June 29, 2008.

An OBC survey was completed by Western Geco on August 12, 2008. A 12x6 km cable layout was deployed on the sea bed and 630 kms sail lines acquired.

The data is currently being processed and results are expected toward the end of the year.

Nautical CEO Steve Jenkins said, "Mariner continues to be a corner stone asset of Nautical and has participated closely in all the technical and operating committees of the joint venture. We are delighted that, under the leadership of the new Operator, StatoilHydro, the seismic surveys have been acquired. We believe that this will make a significant step towards the formulation of the field development plan and the achievement of commercial production."