Huge oil find in Kingfisher oil fields
Feb 09, 2009
HERITAGE Oil, the firm exploring for oil and gas in the Albertine Graben, has scored another success from its Kingfisher prospect.
By Ibrahim Kasita
in Berlin, Germany
HERITAGE Oil, the firm exploring for oil and gas in the Albertine Graben, has scored another success from its Kingfisher prospect.
Stockbroker Davy was quoted in the Irish media recently, saying that the oil field being considered for various development options contains 200 million barrels of oil.
“Significant progress has been made in the Albert Basin in the last three years moving it beyond the commercial threshold,†Tony Buckingham, the chief executive officer, said.
“There are still many targets in this prolific basin, which Heritage hopes to drill in the next two years,†he said.
Further tests on the latest well are expected to take around eight weeks, Heritage Oil stated.
The Kingfisher-3A well encountered a gross oil-bearing interval of about 90 metres with net oil pay of about 22 metres. Like previous wells, Kingfisher-3A has been suspended for use as a production well.
The firm said the latest well completes the initial appraisal drilling programme for the Kingfisher field.
In light of recent discoveries in the Albert Basin, the two partners (Heritage and Tullow) are now working on a commercial development plan for the basin.
It also said the result upgrades other prospects in the region, notably Tullow’s 100% owned Ngassa target in Block 2, due to be drilled soon. Ngassa could contain up to 600 million barrels.
Since the drilling of the initial discovery well at Kingfisher-1 in August 2006, the field has exceeded expectations with production test results from the Kingfisher-1A and Kingfisher-2 wells highlighting the outstanding potential of this discovery.
The successful drilling of the Kingfisher field has lowered the exploration risk of other targets within Block 3A, which is in a lake bed drilling programme, scheduled to commence next year.
The Government said recently that plans for commercial oil production were on course.
in Berlin, Germany
HERITAGE Oil, the firm exploring for oil and gas in the Albertine Graben, has scored another success from its Kingfisher prospect.
Stockbroker Davy was quoted in the Irish media recently, saying that the oil field being considered for various development options contains 200 million barrels of oil.
“Significant progress has been made in the Albert Basin in the last three years moving it beyond the commercial threshold,†Tony Buckingham, the chief executive officer, said.
“There are still many targets in this prolific basin, which Heritage hopes to drill in the next two years,†he said.
Further tests on the latest well are expected to take around eight weeks, Heritage Oil stated.
The Kingfisher-3A well encountered a gross oil-bearing interval of about 90 metres with net oil pay of about 22 metres. Like previous wells, Kingfisher-3A has been suspended for use as a production well.
The firm said the latest well completes the initial appraisal drilling programme for the Kingfisher field.
In light of recent discoveries in the Albert Basin, the two partners (Heritage and Tullow) are now working on a commercial development plan for the basin.
It also said the result upgrades other prospects in the region, notably Tullow’s 100% owned Ngassa target in Block 2, due to be drilled soon. Ngassa could contain up to 600 million barrels.
Since the drilling of the initial discovery well at Kingfisher-1 in August 2006, the field has exceeded expectations with production test results from the Kingfisher-1A and Kingfisher-2 wells highlighting the outstanding potential of this discovery.
The successful drilling of the Kingfisher field has lowered the exploration risk of other targets within Block 3A, which is in a lake bed drilling programme, scheduled to commence next year.
The Government said recently that plans for commercial oil production were on course.