Sky Petroleum’s second Mubarek well to go onstream
Posted: 01 October 2007
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The Mubarek K2-ST4 well has been drilled to a total depth of 13,528 feet (12,866 feet Total Vertical Depth) near the base of the Ilam reservoir, Sky Petroleum reported in a statement.
Located offshore United Arab Emirates , the Mubarek Field, is the second of the two obligation wells under the Participation Agreement between Crescent and Sky Petroleum.
The Participation Agreement with Crescent gives Sky Petroleum the right to participate in a share of the future production revenue under the Mubarek Field Programme by contributing up to $25 million in drilling and completion costs related to two wells.
Crescent plans to complete the well and acidize it, connect the gas lines for gas lift and move the Rani Woro drilling rig off location. The K2-ST4 well will then be put on production from the K wellhead platform using the existing gas lift and flow lines.
Crescent expects that the well will be on production within 30 days, subject to any unforeseen operational delays. A period of stabilization will then be required to establish the correct gas lift parameters for the well to optimize production and recovery of oil.
The $25 million commitment for both wells was fully paid by the end of the first quarter of 2006. On completion of the two obligation wells a further well development program will be evaluated. |
