| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: OIL & GAS PRODUCERS |
Premier draws a blank in Vietnam |
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Wed 23 Dec 2009
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LONDON (SHARECAST) - Premier Oil has plugged and abandoned the Cá Rồng Vang well on Block 07/03, offshore Vietnam.
Although the well encountered the Thong Mang Cau, Dua and Cau reservoirs as expected, wireline logging did not find any significant quantities of hydrocarbons.
Simon Lockett, chief executive of Premier Oil, expressed disappointment at the result but said the well has ‘provided important pressure data which will be key in assessing the discovery we made in June at Cá Rồng Đỏ.’
The company plans further seismic and drilling activity on this unexplored area, as part of its 2010 drilling programme, when it is scheduled to drill 10 exploration and appraisal wells.
The oil firm had better luck in Pakistan, where the Kadanwari-19 well, operated by Italian oil giant ENI, encountered 12m of high quality net gas pay in a Lower Guru Sandstone reservoir.
Premier’s estimate of gross reserves in this reservoir is 54 billion cubic tonnes of gas, in line with expectations.
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