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TEXACO TESTS GAS STRIKE OFF BULGARIA

Sept. 6, 1993

Texaco Exploration Offshore Bulgaria Ltd. has become the first western company to claim a hydrocarbons discovery in the Black Sea off Bulgaria. Texaco's 1 Galata flowed 34 MMcfd of gas through a 1-1/4 in. choke from pay at 3,400 ft. The well, which was spudded last June, was the first of two commitment wells. A second well will be spudded early in 1994. The well was drilled to 8,700 ft by the Ocean Liberator semisubmersible operating in 115 ft of water on Block III, 19 miles southeast of

Texaco Exploration Offshore Bulgaria Ltd. has become the first western company to claim a hydrocarbons discovery in the Black Sea off Bulgaria.

Texaco's 1 Galata flowed 34 MMcfd of gas through a 1-1/4 in. choke from pay at 3,400 ft. The well, which was spudded last June, was the first of two commitment wells. A second well will be spudded early in 1994.

The well was drilled to 8,700 ft by the Ocean Liberator semisubmersible operating in 115 ft of water on Block III, 19 miles southeast of Varna (see map, OGJ, May 17, p. 20).

A Texaco official said his company was the first to win exploration acreage off Bulgaria, although Union Pacific Resources Inc. ,N,as the first to complete a well, on its Block I concession.

"Further drilling is required in order to establish the commerciality of the discovery," said Kenneth G. Smith, general manager of Texaco's frontier exploration department

Block III license partners are Texaco 20%, Enterprise Oil Exploration Ltd. 20%, OMY (Bulgaria) Exploration GmbH 10%, and Bulgarian Committee of Geology & Mineral Resources 50%.

Ocean Liberator is the only western semisubmersible operating in the Black Sea. It is operated by Diamond Offshore, from Aberdeen. The rig is to be released by Texaco to drill two wells for British Gas plc on Block IY.

Block IY, known as Kamchia, is said by British Gas to hold a gas/condensate discovery. Drilling is expected to begin late in September or early in October.