ARAKIS REPORTS A NEW OIL DISCOVERY INCREASES RESERVES IN SUDAN.VANCOUVER, B.C.--(BUSINESS WIRE)--May 18, 1995--ARAKIS ENERGY CORPORATION, through its wholly-owned subsidiary State Petroleum Corporation, has tested the Bentiu Unit I zone in the Unity Well No. 16 and has confirmed a significant new oil discovery. Independent reservoir engineers have allocated 38 million barrels of recoverable oil reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally to this zone. Additional potential of 75 to 100 million barrels of recoverable reserves could be established from the Bentiu Unit II and III zones, which are similar untested pay zones also underlying the Unity field in Arakis' concession in Central Sudan. Testing on the Unity No. 16 well confirmed 65 feet of effective oil pay with porosity porosity /po·ros·i·ty/ (por-os´it-e) the condition of being porous; a pore. po·ros·i·ty n. 1. The state or property of being porous. 2. of 18.6 percent in the Bentiu Unit I zone underlying the Unity field at about 8600 feet. This zone was never previously tested. The Unity field reserves had been assigned to 10 shallower productive zones above the Bentiu units. The Bentiu structure lying under the Unity field has indicated closure identified via drilling and 3-D seismic of 3200 acres. At an estimated oil-in-place of 60,000 barrels per acre, 190 million barrels of 36 degrees API (Application Programming Interface) A language and message format used by an application program to communicate with the operating system or some other control program such as a database management system (DBMS) or communications protocol. of original oil-in-place are indicated from only the upper portion of the Bentiu Unit I zone. Engineers have established a minimum recovery factor of 20 percent, yielding an initial 38 million barrels of recoverable oil from this zone, or an increase of 27 percent in the Unity field reserves. This increases Arakis' total estimated recoverable reserve base in the Heglig and Unity fields to 395.3 million barrels. Further testing of the Unity No. 16 well has had to be curtailed because of weather. Following the rainy season, State Petroleum will conclude the testing on this well. In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile , a deepening program for the existing 14 wells in the Unity field to test the lower Bentiu zones is being designed by Arakis' Calgary based engineering team and will be implemented as soon as possible. In addition, exploration drilling and testing will continue through the rainy season in the Heglig area. Roads and new exploration and development drilling locations have been pre-built in preparation for drilling throughout the season. The test on Unity No. 16 well was the second of two production tests to prove additional reserves within the existing Heglig and Unity oil fields This list of oil fields includes major fields of the past and present. The list is incomplete; there are more than 40,000 oil and gas fields of all sizes in the world[1]. . The previously reported results of the test on the Heglig No.8X oil well significantly expanded the proved productive area in the Lower Cretaceous sandstone sandstone, sedimentary rock formed by the cementing together of grains of sand. The usual cementing material in sandstone is calcium carbonate, iron oxides, or silica, and the hardness of sandstone varies according to the character of the cementing material; quartz Bentiu Unit III zone in the Heglig oil field. The Heglig oil field is now productive in the Bentiu Unit I, II, III zones. In the Heglig area, the Bentiu zone is productive in Units I,II,III from a gross interval of over 1000 feet. None of the on-structure Unity wells were previously drilled deep enough to evaluate the Bentiu Unit II and III zones. Interpretation of the 3-D seismic has identified further potential for the Unity oil field to have substantial Bentiu oil pay deeper in the section. Newly discovered Bentiu reserves in the Unity area will have a significant positive effect on current oil production profile plans. If, as in the Heglig area, the Bentiu zone shows aquifer aquifer (ăk`wĭfər): see artesian well. aquifer In hydrology, a rock layer or sequence that contains water and releases it in appreciable amounts. support; long-term, an enhanced production program will not be required and the producing strategy for the Unity field will change. The Bentiu Unit I, II and III zones could be preferentially produced over the shallower horizons, resulting in increased productivity at lower capital and operating costs operating costs npl → gastos mpl operacionales . Redesign of the oil export pipeline project for the Unity and Heglig oil fields is nearing completion. The original design throughput of 65,000 BOPD BOPD Barrels of Oil Per Day BOPD Bataan Ocean Petroleum Depot was based on the estimated capacity of the previously tested zones in the existing Heglig and Unity fields. Recent fluid analyses and field testing indicate, however, that the planned 20- inch pipeline can initially transport 85,000 to 100,000 BOPD. Oil to operate the line at capacity will come from current and new proven recoverable reserves within the existing Heglig and Unity oil field areas. CONTACT: David Harrison David Harrison may refer to:
604/685-7933, 604/685-8109 (Fax) |
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