Melrose Resources plc, the oil and gas exploration, development and production company, today provides an update on its operations.
The interpretation of the 3D seismic data acquired over the central area of the offshore Galata Block, Bulgaria, in 2011 has been completed confirming the presence of a number of potential reservoir structures. A revised prospect inventory has been compiled and audited by the Company’s independent reserves assessors.
Seven structures have been identified in the area with a total combined unrisked P50 prospective resource estimate of 125 Bcf. The highest ranked prospect is called Kamchia, which has an estimated P50 prospective resource of 27 Bcf and a chance of success of 40 percent. Preparations are underway to drill this well as early as operationally practicable which is expected to be in early 2013 as part of a multi-well rig programme. The programme includes the completion of the Kavarna East discovery and two exploration wells in Romania.
In the event of drilling success on the Kamchia prospect, the discovery would be developed using a low cost subsea tie-back to the Galata field production platform which is similar to the approach used for the Kavarna and Kaliakra field developments.
Also, the company informs that seismic acquisition operations have recently commenced on its Muridava and Est Cobalcescu concessions in the Romanian Black Sea using the Vyacheslav Tikhonov seismic vessel. The planned acquisition programme comprises 1,920 square kilometres of 3D data, sufficient to cover both licences, and the survey is now 28 percent complete.
David Thomas, Chief Executive , stated that they are encouraged by the outcome of the seismic interpretation on the Galata block. He also added that the 3D seismic programme on their new concessions offshore Romania, together with the seismic interpretations offshore Bulgaria, will “support an exciting drilling programme in the Black Sea in 2013.”
[mappress] Subsea World News Staff , July 09, 2012; Image: Melrose Resources