By Sami Zaptia.
London, 1 April 2019:
The National Oil Corporation (NOC) and its subsidiary Arabian Gulf Oil Company (AGOCO) announcd promising test results from appraisal well Y3-51 in the Sirte Basin, with a potential production capacity of nearly 8,500 oil barrels per day (bpd) and 1.82 million cubic feet of gas.
The well, located approximately 30 kilometres north-east of the Nafoura oil field, reached a total depth of 11,300 feet in January 2018, with more elaborate testing conducted on March 24, 2019, the NOC said Thursday.
In its technical notes, the NOC said that well Y3-51 was drilled to delineate structure (Y) to the north-west of discovery well Y1-51, drilled in 2000, with promising test results of 3,892 bpd. Thereafter, well Y2-51 was drilled in 2003, yet results were not encouraging. AGOCO is currently drilling appraisal well Y4-51.
The NOC added that it is working with AGOCO on developing these fields and increasing production. It said that it considered the full exploration of structure (Y) as a strategic priority, as it is expected to add 38 million bpd of oil, and 12 billion cubic feet (bcf) of gas, with recoverable reserves of 11 million barrels of oil, and 10 bcf of gas.