Offshore Development Oman 2014 Conference Executing an Offshore Exploration Project in Oman Case Study: Block 50 Muscat, Sultanate of Oman 9th December 2014 Dr. Kenneth Pereira Ms. Goloka Ravi 1
Agenda Introduction Concession Background Our Work Programme Offshore Drilling Project Considerations Positives Where Do We Go From Here 2
Agenda Introduction Concession Background Our Work Programme Offshore Drilling Project Considerations Positives Where Do We Go From Here 3
Masirah Oil Limited Listed in Singapore Listed in Malaysia Based in Switzerland An independent E&P company An independent E&P company Private Bank Rex International Hibiscus Petroleum Schroder & Co Holdings Berhad Banque S.A.…
Agenda Introduction Concession Background Our Work Programme Offshore Drilling Project Considerations Positives Where Do We Go From Here 5
Block 50 History - 1 Block Name : Block 50, Sultanate of Oman Date Acquired : August 2011 Water Depth : Up to 150m Size : 16,900km2 Operator History Company Year Started Work Completed Sun Oil 1976 OMAN Drilled 3 prospects…
Block 50 Potential Between 1976 - 2008, extensive seismic and exploration drilling activities were done without success. Why did Masirah Oil believe there was potential in the basin 7
Investment Rationale - 1 A Offshore structure mirrors prolific onshore basin Masirah Bay includes equivalents of the Abu Mahara and deeper, Nafun, Wasia and Tertiary B A B OMAN ONSHORE OMAN OFFSHORE 8
Investment Rationale - 2 Preliminary in-house assessment of prior datasets Application of new technology (Direct liquid indicator) 9
Agenda Introduction Concession Background Our Work Programme Offshore Drilling Project Considerations Positives Where Do We Go From Here 10
Work Programme Strategy Comprised of 3 phases Phase 1 Apply new technology; Detailed desktop review of Preliminary Rex Virtual Drilling prior datasets prospects Plan for Success Phase 2 Data acquisition, Define…
Phases 1 & 2 PHASE 1 : DESKTOP REVIEW PHASE 2 : SEISMIC WORK Reprocessed Seismic Programme Conducted 3694 line km legacy 2D seismic (TOM97 By Masirah Oil. & OHOC06) 819 line km 2D seismic (2012) 346 km2 3D seismic (2012) Specialised…
Phase 3 Well Planning Q1 2012 Q3 2013 Tender Process 14 Open Tender 24 Low Value Tender 3 Sole Source 1. Well design for several well locations. 2. Long tendering process Tender Strategy Extensive bid list provided by Ministry of…
Agenda Introduction Concession Background Our Work Programme Offshore Drilling Project Considerations Positives Where Do We Go From Here 14
Objective and Critical Success Factors (Offshore Oman Context) HSSE Objectives Meet well objectives Well costs within approved AFEs Rig, Personnel, Equipment Critical Success Logistics Factors HSSEMS 15
HSSE Considerations Item Objectives Considerations Action Remote location, many clinics but not Helicopter on permanent standby. Health fully equipped. Quick Response Ministry of Defence offered emergency Medevac Fully equipped…
Logistical Considerations New development area Invested in mix of responsibility for land, personnel resources, Duqm Port equipment and work pattern between Logistics Service provider and Duqm Port Company Loading/offloading…
Rig, Personnel, Equipment Rig Availability Limited availability of rigs for a short drilling programme Personnel Permits Many vendors unfamiliar with the labour permit /visa process. Require more awareness and close communications…
Agenda Introduction Concession Background Our Work Programme Offshore Drilling Project Considerations Positives Where Do We Go From Here 19
Positives - Government Support All relevant ministries aligned with Government agenda to make offshore exploration project a success. 13 Ministries involved in permitting. Cooperative, approachable and efficient. No work execution…
Positives Critical Success Factors HSSE ZERO Fatalities ZERO Lost Time Incidents ZERO Medical Treatment Cases No Security Issues Logistics No Non Productive Time due to efficient management of logistics Excellent communication…
Positives - A Discovery During a 48-hour test, hydrocarbons were flowed to the surface and the well achieved light oil flow rate of up to 3000 stock tank barrels per day with no water production. First discovery after 30 years…
Agenda Introduction Concession Background Our Work Programme Offshore Drilling Project Considerations Positives Where Do We Go From Here 23
Block 50 Appraisal Plan Acquire additional 3D seismic Focus seismic processing and interpretation around the GA South discovery In parallel with the seismic acquisition: Perform an Extended Well Test (EWT) of GA South Utilize an…
Summary & Opportunities First offshore discovery East Oman in 30 years Perform additional 3D seismic (ongoing) Appraise GA South with an Extended Well Test Utilize an EWT concept that can be relocated to test other discoveries…
Conclusion Experience as a junior independent performing activities on an offshore project in a developing area of Oman has been extremely positive Thank you www.hibiscuspetroleum.com 26
Loading...
