IPR Inc., Irving, Tex., and ONGC Videsh Ltd. (OVL), Mumbai, have made an oil discovery with the first exploration well on the North Ramadan concession in the Gulf of Suez.
The North Ramadan-1A discovery was drilled 6 km west of IPR’s North July oil field, which has been producing since 1991. IPR said the offshore infrastructure at the adjacent North July development lease will provide options for expedited development of the discovery.
North Ramadan-1A was drilled to 10,050 ft TD in the Lower Miocene Mheiherrat formation. The well perforated a total of 133 ft over a gross interval of 174 ft of interbedded sandstones, shales, and limestones in the Miocene Asl formation. The well tested at a naturally flowing rate of 2,979 b/d of 36.5° gravity oil and 1.5 MMscfd of gas. No water was produced.
Operator IPR expects additional zones to be prospective and will focus on the tested zones and the upside potential during the upcoming drilling campaign.
IPR and OVL are in the first phase of exploration on the 290 sq km North Ramadan concession, believed to hold potential resources exceeding 200 million bbl of oil. The work program during this 3-year period requires that the companies shoot 3D seismic and drill two more exploratory wells. The first-phase budget is estimated at $45 million.