Lundin Petroleum AB, Stockholm, said its Morskaya-1 exploration well, which was drilled on Lagansky block in the northern Caspian Sea off Russia, has encountered a major oil accumulation in the Aptian and Neocomian sandstone reservoirs.
The discovery well also found minor amounts of natural gas in the overlying Albian reservoir.
Morskaya joins numerous other giant and supergiant discoveries of varying recoverable volumes in the northern Caspian, all of which have yet to be placed on production (see map).
Calling the discovery a “major milestone” for the company, Lundin President and Chief Executive Officer Ashley Heppenstall said Morskaya-1 “will have a material impact” on the company. “We look forward to our forthcoming exploration and appraisal program to further realize the excellent potential of this area,” Heppenstall said.
The Neocomian formation was perforated over a 7-m interval and tested at a stabilized rate of 1,700 b/d of oil on a 56⁄64-in. choke. The Aptian formation was perforated over 21-m interval and tested at a stabilized 800 b/d of oil on a 36⁄64-in. choke.
“The flow rates were severely constrained by facilities and larger rates will be possible during development,” Lundin Petroleum said.
The company was to test the Albian in future appraisal wells because of time constraints associated with the short drilling season.
Morskaya-1 was drilled to a depth of 2,082 m in less than 2 m of water. A significant amount of cores, wireline logs, and reservoir fluid samples has been acquired.
The Morskaya structure straddles the license boundary on the east side of the Lagansky block and the adjoining acreage controlled by the Caspian Oil Consortium and is on trend with several major oil and gas discoveries made by OAO Lukoil.
Lundin said the Lagansky block contains significant additional prospectivity and following the testing of the Morskaya-1 well the Marine Drilling Complex (MDC) will be transported to the Laganskaya-1 well location west of Morskaya, where drilling is expected to commence at the end of September.
Lundin plans to drill another two wells in 2009. Petrovskaya-1 will target a large anticline to the northwest and on trend with the Morskaya discovery. The second well will most likely appraise the Morskaya discovery.
Lundin has a 70% stake in Lagansky block. In July 2007, OAO Gazprom signed a call option agreement with Lundin to acquire a 50% stake plus one share in the block.