By OGJ editors
HOUSTON, Nov. 18 -- Anadarko Petroleum Corp., operator of Gulf of Mexico Green Canyon Block 518, Monday reported a deepwater discovery in the block that significantly extends the boundaries of K2 field in Block 562 northward (OGJ Online, May 27, 2003). The well was drilled to more than 26,700 ft TD, the deepest offshore well Anadarko has ever drilled.
The Green Canyon 518 No.1 well, spudded in July in about 4,000 ft of water about 150 miles south of New Orleans, encountered 128 ft of net oil pay in the same pay zone as the Agip Petroleum Co.-operated K2 discovery in Block 562 just south of Block 518. Anadarko holds 52.5% of Block 562 and 100% interest in Block 518.
The successful deepwater subsalt exploratory well is expected to come on line as early as 2005 through a subsea tieback to Anadarko's Marco Polo tension-leg platform, which will serve as an area hub, installation of which is currently under way. First 518 No.1 production is slated for March or early April 2004.
"By going back through Marco Polo, Green Canyon 518 will come on production much sooner with stronger economics than using a more traditional development strategy," said Mark Pease, Anadarko's vice-president, US onshore and offshore.
Anadarko plans to drill another well on Green Canyon Block 518 immediately to further delineate the field. "We'll be able to book proved reserves this year for the 518 No. 1 well, and this discovery opens up even more reserve potential on the block," Pease said. "This additional potential will be defined through further drilling." He said Anadarko also plans to drill its 100%-owned Genghis Khan prospect early next year.
