Babylon
07-07-2011, 02:28 PM
Unproductive oil well abandoned in Kurdistan
07/07/2011 13:51
Erbil, July 7 (AKnews) – Oil company, Sterling Energy, says it will abandon an oil well in Kurdistan after it was disappointed with the flow.
http://static.aknews.com/images/cms-image-000079321.jpg
Sterling Energy said yesterday that Sangaw North-1 has not yielded enough oil to make it a viable pumping option. It will continue its exploration of the area until the end of its contract in 2013.
The company’s share price dropped 8 per cent in response.
During the first flow test, Sterling said formation gas and water were observed in small quantities at surface but it could not achieve sustainable flow rates.
Neither of the two flow test produced hydrocarbons at commercial rates and the Shanghaw North-1 well will now be plugged and abandoned.
Operations to abandon the well are expected to take approximately two weeks and in the coming months Sterling said it would integrate and analyse the seismic, drilling, logging and testing data before making recommendations.
By Patrick Smith
http://www.aknews.com/en/aknews/2/250634/
07/07/2011 13:51
Erbil, July 7 (AKnews) – Oil company, Sterling Energy, says it will abandon an oil well in Kurdistan after it was disappointed with the flow.
http://static.aknews.com/images/cms-image-000079321.jpg
Sterling Energy said yesterday that Sangaw North-1 has not yielded enough oil to make it a viable pumping option. It will continue its exploration of the area until the end of its contract in 2013.
The company’s share price dropped 8 per cent in response.
During the first flow test, Sterling said formation gas and water were observed in small quantities at surface but it could not achieve sustainable flow rates.
Neither of the two flow test produced hydrocarbons at commercial rates and the Shanghaw North-1 well will now be plugged and abandoned.
Operations to abandon the well are expected to take approximately two weeks and in the coming months Sterling said it would integrate and analyse the seismic, drilling, logging and testing data before making recommendations.
By Patrick Smith
http://www.aknews.com/en/aknews/2/250634/