Gulfsands sees potential in Syrian structure

Feb. 8, 2006
Gulfsands Petroleum PLC, Houston, has identified nine potentially productive zones in Paleozoic reservoirs in the sole existing wellbore on the large Tigris structure in 11,000-sq-km Block 26 in northeast Syria.

By OGJ editors
HOUSTON, Feb. 8 -- Gulfsands Petroleum PLC, Houston, has identified nine potentially productive zones in Paleozoic reservoirs in the sole existing wellbore on the large Tigris structure in 11,000-sq-km Block 26 in northeast Syria.

The findings are the result of a reserves study of the structure. The study, by Ryder Scott Co. LP, was based on a 1994 well and 3D seismic data.

If the Tigris structure, estimated to be as large as 75 sq km, is primarily a natural gas accumulation, the nine reservoirs could contain nearly 883 bcf. If mainly oil, it might hold 104 million bbl and 64 bcf of gas in the identified zones.

Also, based on potential below the base of the hydrocarbon-bearing zones encountered in the wellbore and the lack of definitive water contact evident in the existing data, unrisked prospective resources were determined to be 3.4 tcf of gas or, if primarily oil, 408 million bbl and 245 bcf.

Overall, the gas case equates to total resource potential of 722 million boe, while the oil case equates to 512 million bbl and 308 bcf.

Gulfsands reviewed in detail the six wells previously drilled to test Paleozoic reservoirs in the block. It concluded that three of the wells encountered potentially commercial hydrocarbon accumulations, based on drilling and independent wireline log evaluation.

Gulfsands is scheduled to spud the first well on the Tigris structure by late August. It has recently signed a letter of intent with MB Drilling Overseas Ltd., Damascus, Syria, for two land rigs (OGJ Online, Jan. 17, 2006).