Mubarek infill well spudded off Sharjah

Sky Petroleum Inc., Austin, Tex., said drilling has started on the K2-ST3 sidetrack in Mubarek oil field operated by Crescent Petroleum Co. International Ltd. off Sharjah.

Uchenna Izundu
International Editor

LONDON, June 11 -- Sky Petroleum Inc., Austin, Tex., said drilling has started on the K2-ST3 sidetrack in Mubarek oil field operated by Crescent Petroleum Co. International Ltd. off Sharjah.

PT Apexindo's Rani Woro cantilever jack up rig is drilling the well at the Mubarek K wellhead platform to a target depth of 13,500 ft in the Late Cretaceous Ilam/Mishrif oil reservoir. The well sidetracks the Mubarek K-2 well drilled to test the Early Cretaceous Thamama reservoir, which produces gas and condensate in the field.

Results are expected in the third quarter after testing, Sky said.

The well is the second well in a Mubarek infill-drilling program covered by an agreement Sky signed in 2005 with Buttes Gas & Oil Inc., a subsidiary of Crescent Petroleum, Sharjah. Sky's commitment is two wells with costs capped at $25 million. It has the option to drill four more wells capped at $12.5 million each.

The first well, H2, had produced 83,692 bbl of oil by Mar. 31, since it began production on May 16, 2006.

Mubarek, on stream since 1974, is undergoing redevelopment after the companies identified attractive prospects from a 3D seismic survey. The field has produced more than 100 million bbl of oil. It has nine wellhead platforms, a production platform with capacities of 60,000 b/d of oil and 150 MMscfd of gas, infield pipelines, and a 600,000 bbl floating storage unit.

Sky's agreement includes a right of first refusal for exploration of the Sir Abu Nu'ayr prospect off Abu Dhabi. That project is under evaluation.

Contact Uchenna Izundu at uchennai@pennwell.com.

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