Reserves cheer for Tethys in Oman
Canadian independent Tethys Oil said that a preliminary reserves study
suggests an increase in estimated condensate of almost 34% at the Naith ‘A’
reservoir in Oman.
The study by Helix of the UK suggests that the mid-case recoverable
condensate resource is now estimated at 8.75 million barrels compared to the
previously estimated 6.53 million barrels. Tethys’ share would increase from
2.6 million barrels to 3.5 million barrels.
“An increase in potential condensate resources of over 30% has a material
impact on the economics of the Jebel Aswad project. The next step in
bringing the project forward is the drilling of Jebel Aswad-2, which will be
designed to optimise production and hopefully will confirm that initial flow
rates (are) considerably above the 2,600 boepd achieved from JAS-1 are
possible from the JAS structure,” said Tethys’ managing director, Magnus
Nordin.
The company added that site construction for the next well on Block 15 has
begun and the drilling rig Abraj 204 is expected in late May. JAS-2 will
target the hydrocarbon producing Naith “A” reservoir on the south-eastern
part of the structure.
The company expects production from the block to start in July next year.
Tethys operates Block 15 on a 40% stake with Danish partner OdinEnergi on
60%.
25 April 2008 07:31 GMT
| last updated:
25 April 2008 07:34 GMT
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