UK Oil & Gasoline plc (UKOG) has halted testing at its Pinarova-1 effectively in Turkey after concluding that there aren’t any business charges of hydrocarbons current within the asset.
The choice comes after profitable reperforating and intensive swab testing at Pinarova-1 by the operator Aladdin Center East, UKOG mentioned in a current London Inventory Change announcement. The corporate added that it was “dissatisfied that Pinarova-1 has not met our joint expectations”. UKOG holds a 50 p.c non-operated curiosity in Pinarova-1 and the encircling Resan license, which has an space of 117.9 sq. miles (305 sq. kilometers).
Nevertheless, UKOG mentioned it believes the drilling and testing outcomes “point out Pinarova seemingly penetrated the southernmost feather fringe of a small oil accumulation throughout the Germik/Hoya sequence, stretching updip in the direction of Kezer-1”.
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“Preliminary evaluation of all knowledge signifies that the supply of those shallow mild oils is more than likely from spill or seepage from an underlying deeper mild oil pool within the Kezer-Pinarova space. We’ll proceed to research the business potential of each these future targets”, UKOG famous.
The testing operations concerned efficiently detonating 7-inch perforating weapons at 12 photographs per foot over a 40-foot part of Germik/Hoya sequence, a complete injectivity and swab testing program, adopted by an acidization operation and additional swab testing, in accordance with the discharge.
“Exploration drilling and testing is rarely assured to ship success, even when all prior indicators are constructive. That is actually the case for Pinarova-1, and we’re dissatisfied by the dearth of business stream”, UKOG Chief Govt Stephen Sanderson mentioned.
“We’ll proceed to investigate all knowledge and discover each the potential updip shallow Germik/Hoya accumulation and the seemingly extra important deeper pool goal, essentially the most possible supply of the noticed shallow hydrocarbons and shot-hole oil seep. With operator Aladdin’s cooperation, prices had been thankfully stored to a minimal and it provides to our financial institution of knowledge in regards to the Resan licence for the long run”, Sanderson added.
Pinarova-1, positioned 3.7 miles (6 kilometers) north of the Basur-1 oil discovery, was designed to check a working speculation, supported by effectively and seismic knowledge, “that the energetic 42˚ API mild oil seep discovered final summer time in a seismic shot gap above the Pinarova construction, is immediately fed by and related to an underlying mild oil accumulation mendacity throughout the Germik and/or Hoya limestones”, in accordance with an earlier announcement.
For the mission, UKOG sourced bigger and extra highly effective 7-inch perforating weapons, able to absolutely penetrating Pinarova-1’s 9⅝-inch casing and cement.
In its United Kingdom (UK) operations, UKOG final month mentioned it was happy with the choice by the UK Court docket of Enchantment to refuse permission for any additional appeals towards the grant for the corporate’s Loxley standard fuel and hydrogen feedstock mission in Surrey.
The Court docket of Enchantment’s determination is remaining and can’t be additional reviewed or appealed, and Loxley’s planning permission will now stay in full drive and impact for its full time period, UKOG mentioned in a press release.
The Court docket of Enchantment order upholds an earlier Excessive Court docket order in July 2023 refusing permission to attraction. Each the Court docket of Enchantment and Excessive Court docket orders state that an attraction would haven’t any actual prospect of success, UKOG mentioned. In refusing the 2023 attraction, Justice Steyn mentioned, “the proposed attraction has no actual prospect of success, and I’m not persuaded there may be every other compelling purpose to grant permission.”
The Loxley fuel discipline, positioned north of the South Downs, close to the city of Horsham in Surrey, UK, was found by Conoco in 1982 in the course of the drilling of the Godley Bridge-1 (GB-1) effectively. The block was cut up into two licenses PEDL 235, which is licensed to IGas Vitality Plc, and PEDL 234, which is licensed to UKOG. UKOG at the moment holds a 100% curiosity within the PEDL 234 license.
To contact the creator, electronic mail rocky.teodoro@rigzone.com
