Offshore Staff
(US, GoM) - Petsec Energy drilled a 1 MMbbl oil discovery in the Gulf of Mexico, adding to the company's recent four commercial gas discoveries in the area.
The Australia-based company is proceeding with plans for construction of a separate oil production facility on Main Pass block 18.
This announcement follows results of Petsec's evaluation of the oil and gas discovery made with the company's Main Pass block 18 G-6 well, which was the last well in a successful four-well drilling program from the company's Main Pass block 19 platform.
The G-6 well, drilled to a total depth of 13,018 ft, found a total of 7.5 Bcf of natural gas net to Petsec in three sands and 1.1 MMbbl of oil net to Petsec in two sands.
"This oil discovery is of a size to warrant a separate development at MP 18. We anticipate that this would involve the drilling of two to three development wells to produce the oil discovered to date, drill testing in MP 18 and in adjacent Main Pass block 103 of additional targets totaling 8-15 Bcfe, including potential for more oil and the installation of a production facilities," says Terry Fern, Petsec's chairman.
"We are currently studying the most efficient way of undertaking this project in light of other oil exploration potential the company has in the immediate area," says Fern.
The G-6 well is currently being completed as a gas producing well from the MP 19 platform and is expected to be flowing this month.
"The results from the G-6 well have increased the potential for success of other prospects on MP 18 and adjacent MP 103, also held by Petsec Energy," he says.
"We plan further drilling at MP 18/103 in the third quarter of this year, after the drilling of two to three wells at Vermilion block 257 in late May."
04/14/06
