Gulfsands Petroleum, the oil and gas production, exploration and development company with activities in Syria, Iraq, and the U.S.A, announced today that they have plugged and abandoned the Hanoon-1 exploration well as having a non-commercial oil reservoir.
The Hanoon-1 well, located approximately 8 kilometres to the north of the Khurbet East field, targeted the Cretaceous Shiranish and Massive Formations, the latter being the producing formation in the Khurbet East field. The well targeted a structure with pre-drill estimated reserves of 5-15 million barrels of oil ("MMbbls").
Hanoon-1 encountered the top of the Cretaceous Shiranish Formation at approximately 1885 metres Measured Depth ("MD"), or 1440 metres True Vertical Depth ("TVD") below mean sea level ("bmsl"), approximately 30 metres deeper than the pre-drilling prognosis. A few metres below this depth hydrocarbon gas was detected and oil shows were observed on drill cuttings. On the basis of these oil and gas shows drilling operations were suspended and two sequential coring operations were undertaken. 24 metres of core were recovered which were intermittently coated with viscous oil. The well was then open hole tested, however no hydrocarbons were recovered to surface.
Drilling operations resumed and the well was deepened to the top of the Massive Formation which was encountered at 1975 metres MD (1530 metres TVD bmsl), also 30 metres deeper than the pre-drilling prognosis. The presence of oil shows and oil on drill cuttings shakers between 1989 and 1992 metres MD (1544 and 1547 metres TVD bmsl) prompted a further coring operation to be conducted, and an additional 3.5 metres of core were recovered. According to the company, the formation generally consisted of tight dolomite and limestone with spotted viscous oil shows. It is considered likely that the quantities of oil observed at surface had emanated from oil filled natural fractures that were detectable from wireline logs. Further testing operations were then conducted in open hole over the Shiranish and Massive Formations combined, inclusive of acidification of both intervals with lift assistance provided via nitrogen injection. These operations recovered non-commercial amounts of viscous oil to surface along with formation water. Consequently, the Hanoon-1 well has been interpreted as having a non-commercial oil reservoir and has been plugged and abandoned. The cost to Gulfsands for its 50% share of the Hanoon-I exploration well is estimated at approximately US$2.0 million before cost recovery and approximately US$700,000 after cost recovery.
Once the…
