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LIVE

Wednesday, 20 August, 2008, 07:10 GMT | more prices >>

Oilex set to spin in Oman

By Upstream staff

Photo by Chris Hopson

Oilex is set to start drilling the Ghadaq-1 exploration well in Oman’s Block 56 to evaluate the Permo-Carboniferous reservoir interval, the company said today.

The well will also be deepened to intersect the prospective Camrian Huqf formation, which has been found to be oil bearing in adjacent wells.

The bore is the second of a three-well exploration programme on the block and follows the successful Sarha-1 well, Oilex said in a statement today.

Sarha-1 showed multiple pay zones and the company hopes to find similar zone in Ghadaq-1, it said.

The company said it hoped to tap estimated resources in place of between 5 million and 30 million barrels of oil

Drilling to total depth of a bout 1600 metres is expected to take 18 days.

Oilex is the operator of the Ghadaq-1 well with a 25% stake, together with partners Videocon Industries (25%), GAIL (25%), Hindustan Petroleum (12.5%) and Bharat Petroleum (12.5%)

Oilex is also preparing to go ahead with the first of a planned six-well continuous drilling programme in the Cambay production sharing contract area of India's Gujarat state, it said.