Serinus Energy PLC will suspend exploration at the Canar-1 exploration well on the northern flank of Carei basin, about 4 km west of the company's Moftinu gas plant in Romania, due to insufficient gas resources.
Canar-1 was drilled to a total depth of 1,570 m, targeting three prospective hydrocarbon zones. The company was looking for additional hydrocarbons on the migration path from the Carei basin source kitchen (OGJ Online, Aug. 4, 2022).
Well logging and gas show readings determined that these zones had indications of residual gas, but they do not contain sufficient gas resources to justify proceeding with the testing and completion program for the well. The well will be suspended for potential future use as a water disposal well.
The drilling rig will mobilize to the Moftinu Nord-1 well 5.2 km to the northwest of the Moftinu gas plant. This well will target multiple sands within a different structure type to Canar-1.
Carei basin is in the Satu Mare concession which contains four areas of interest for future exploration and development (OGJ Online, Oct. 21, 2021).
Serinus has 100% working interest in the concession.
