Drilling completed in GRJ-2 Well on Block 126A in Algeria
Gulf Keystone to test hydrocarbons presence
Posted: 09 January 2006
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Gulf Keystone has completed drilling, coring and logging operations at the GRJ-2 well on Block 126A in north eastern Algeria. Technical evaluation of the data has indicated three separate potential reservoir intervals which may contain hydrocarbons.
A testing programme will be implemented once experts confirm the availability of the required equipment.
Gulf Keystone directors believe that the testing programme could involve fracturing of the indicated reservoir sections which is intended to increase the potential to intersect open fractures.
The processing of the 460 square kilometre 3-D seismic survey in the southwest of Block 126A, acquired in 2005 by Gulf Keystone, is now complete and the Gulf Keystone team will be using this 3-D to map and interpret the reservoir in order to select a location for drilling this year.
Meanwhile, the company has submitted an application for an early production license on the GKS field. GKS-2 was originally drilled and tested as a discovery well by Sonatrach. Gulf Keystone will be working with Sonatrach to seek the approval for a short term production license from the Ministry.
The company is also calling for tender for the processing and interpretation of 412 square kilometre of 3-D seismic acquired by Sonatrach in 2005 it was awarded the block in the sixth International Bid Round. The analysis of available geological and geophysical data on four existing discoveries which identified an additional 22 leads will be used to develop an appropriate ongoing work programme for Block 129.
To advise on partnership and establishing potential partnership, Gulf Keystone has engaged Tristone Capital Limited, an advisory firm specialising in the oil and gas industry.
The purpose of this process is to seek to bring in a partner or partners that can assist the company to accelerate the commercialisation of its current portfolio and to widen its asset portfolio within the region, the company said.
Todd Kozel, Chief Executive Officer of Gulf Keystone Petroleum said: “Our operations in Algeria are developing well after another busy period for Gulf Keystone Petroleum. I believe that the company can look forward to 2006 with renewed optimism as we deliver on our strategic plan.”
Posted by Editor Pipeline Magazine
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