Gold Oil to acquire 2D seismic off Peru

Gold Oil PLC signed a letter of intent with SCAN Geophysical ASA to shoot 2D seismic off northern Peru starting in April.

Apr 23rd, 2009

Uchenna Izundu
OGJ International Editor

LONDON, Apr. 23 -- Gold Oil PLC signed a letter of intent with SCAN Geophysical ASA to shoot 2D seismic off northern Peru starting in April.

SCAN Geophysical will acquire 2,000 km of 2D data over Block Z-34 using its multipurpose vessel M/V Scan Stigandi to identify possible traps and structures.

Block Z-34 covers 371,339 hectares and is bordered to the east by Block Z2B, which is operated by Petrotech Peruana. At yearend 2005, Block Z2B was producing 11,167 b/d of oil and 64 MMscfd of associated natural gas.

Block Z-34 has potential for typical deepwater turbidities, which normally have high porosities and permeabilities, Gold Oil said. "In addition there are possible extensions of the prolific structural traps in the neighboring Block Z2B, and, further east, the onshore fields of the Talara basin, where the cumulative production is on the order of 1.6 billion bbl of crude oil."

Four priority areas for exploration programs in Block Z34 have been identified. Three areas are based on the feasibility to extend and project, towards the west, the merits of the major oil fields in the Talara basin. A fourth exploratory area is based on the symmetry of the trapping models of the present fields.

Contact Uchenna Izundu at uchennai@pennwell.com.

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