By the OGJ Online Staff
HOUSTON, Oct. 15 -- SOCO International PLC, London, has concluded its four-well 2001 drilling program in the Tamtsag basin in Mongolia.
Ed Story, CEO and President of SOCO, said "The 2001 drilling campaign in Mongolia confirmed the value of 3D seismic and repeated the 75% wildcat success rate of the previous year. With the drilling success of a Chinese company just across the border from our project in the Tamtsag basin coupled with our success, we expect interest in the project to grow significantly."
The 19-13 and 19-14 wells were completed and fracture-stimulated in the Tsagaantsav zone. "Although only portions of the indicated productive intervals were perforated in each well and tests were restricted by pump capacity, the wells still tested at initial rates of approximately 350 b/d of oil," said SOCO. "These two wells are expected to be put on production in November after resizing of downhole pumps and completion of production facilities construction."
The 21-3 well, a rank wildcat, was drilled to 2,100 m. It was abandoned without testing.
The 21-4 well was a 400-m offset to the SOTAMO 21-2 well drilled in 1997 (OGJ, June 23, 1997, p. 28). The 21-4 well was drilled to 2,500 m TD and found 75 m of oil shows between 1,667 and 2,020 m.
SOCO plans to complete and test that well by the end of October.
SOCO said that an independent analysis of the Tamtsag basin indicated original oil in place of 1.5 billion bbl, based on information gathered by China National Petroleum Corp. before this year's drilling results. SOCO said Chinese recovery factors in analogous basins are about 30%.
SOCO has also commissioned an independent reservoir engineering firm to update its reserves in Block 19 in light of the drilling successes of the past 2 years.
Huabei Oilfield Services, a subsidiary of PetroChina Co. Ltd. that provided drilling services to SOCO in Mongolia, has exercised its right to obtain a 10% working interest participation in Contract Areas 19, 21, and 22.
SOCO retains an 85% interest in the areas, with Petrovietnam, the state oil company of Viet Nam, holding 5%.