Harvest Natural Resources is seeing good progress in its drilling operations at Al Ghubar North-1 (AGN-1) exploration well onshore Oman, the company said.
p>Harvest Natural Resources is seeing good progress in its drilling operations at Al Ghubar North-1 (AGN-1) exploration well onshore Oman, the company said.
The (AGN-1) exploration well has reached a total depth (TD) of 10,482 feet ahead of schedule. Harvest has an 80 per cent interest in Block 64 onshore Oman which has an area of 3,874 sq km.
Accelerating exploration
The block was extracted from a pre-existing block (PDO's Block 6) to accelerate exploration for gas and gas condensate by the Omani Ministry of Oil and Gas, said the company.
"Interpretation of the mudlog and wireline logs indicates no apparent hydrocarbon saturations within the principal stacked Haima targets in the Barik, Miqrat and Amin reservoirs; however, gas shows and residual hydrocarbons indicate that the structure was charged and failure is attributed to seal effectiveness," it stated.
DHC US$2.4mn lower
According to Harvest, drilling operations on the AGN-1 well progressed ahead of schedule with the well reaching TD 22 days ahead of the forecast drill time.
Consequently, the dry hole cost (DHC) will be US$2.4mn lower than previously forecast. Harvest expects to spend most of the US$6 million DHC in the first quarter of 2012, it added.
Non-associated gas reserves
Post-well evaluation will focus on determining the potential for non-associated gas reserves in the Permian Khuff and clastic Gharif reservoirs.
