Uchenna Izundu
International Editor
LONDON, Jan. 25 -- Victoria Oil & Gas PLC, London, reported a gas-condensate discovery on the 1,224 sq km West Medvezhye license in the Yamal region of Western Siberia, Russia.
Well 103 flowed on test at 400 Mcfd of gas and 350 b/d of condensate at 1,500 psi tubing pressure on a 12/64-in. choke with traces of water. The well penetrated a Jurassic J2 horizon at 3,794-99 m.
Victoria will test the well for 90-120 days to collect information on daily production rates, reservoir characteristics, and productivity and then submit the data to consulting engineers for review.
The company has built an ice road [from Well 103] to the next exploration well, 105, and is mobilizing the rig.
Well 105, to explore a 15 sq km prospect, is to spud in the second quarter of 2007. The prospect is a four-way closure that subsurface and 2D seismic data indicate covers both structural and stratigraphic accumulations. Its potential resource is 130 million boe, the largest on the license.
Victoria plans to drill Well 105 to TD 3,850 m and targets sandstones at 2,760-3,780 m.
Contact Uchenna Izundu at [email protected].
