By OGJ editors
HOUSTON, July 6 – Savoy Energy Corp., Houston, and Masi Corp. Holdings Ltd. are forming a joint venture known as Savoy-Masi Petroleum Corp. Ltd. to license properties in Fiji for oil exploration, recompletion, and workover.
Savoy Energy noted Fiji’s proximity to China, but no further details were available.
The Pacific Islands Applied Geoscience Commission in 1993 reported finding oil in sea bottom sediment cores recovered in the 9,500 sq km Bligh Water basin 20 km north of Tavua on Viti Levu. The Bau Waters basin lies east of Viti Levu.
The former Australian Geological Survey Organisation, which analyzed the cores, won an 18-month contract for a large airborne geophysical project in Fiji in 1997.
Seven wells have been drilled to 2,839 m or shallower in the Fiji islands, but none reached its Tertiary reefal limestone target (see map, OGJ, Mar. 7, 1994, p. 86).
Map from Karoon Energy Ltd.
93851066 © Marko Bukorovic | Dreamstime.com
