Melrose Hits Gas Pay Offshore Bulgaria

Melrose Resources found oil in the Galata Block offshore Bulgaria in the Kavarna East No. 1 well, which was drilled to test an exploration prospect about 6 miles (10 kilometers) to the east of the Galata production platform. The new gas discovery penetrated the top of the Paleocene reservoir interval at a depth of 2,753 feet (839 meters), encountering a net gas pay of 89 feet (27 meters) with an average porosity of 29%. The preliminary reserves estimate for the discovery is 12 Bcf, and is in-line with pre-drill estimates. The planned development for Kavarna East is to tie it back to the Kavarna subsea well location. Drilled by the Jupiter jackup, the rig will now install a subsea tree for the Kaliakra field development, and may then drill the Kaliakra East prospect. Melrose wholly owns and operates the discovery.

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