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| Sky Petroleum updates plans for second well at the Mubarek Field  Sky Petroleum and Crescent Petroleum Company International Limited, the operator of the Mubarek Field, announces that the Rani Woro jackup rig, currently drilling for another operator, is expected to return to the field around November 1, 2006. This date is approximately 45 days later than originally anticipated due to operational delays with the current operator. The Mubarek Field is located 50 kilometers offshore, north-north west of Sharjah, in 200 feet of water.Earlier this year, Crescent signed a contract with P.T. Apexindo Pratama Duta Tbk, the largest Indonesian oil and gas drilling company, to drill the two obligation wells using the Rani Woro jackup rig. The Rani Woro can operate to a water depth of 350 feet and has a 25,000 foot drilling capacity. The second well, designated Mubarek K2-ST3, will now be drilled on the northwest of the field proximal to the Mubarek K1 well location. K1 was drilled as Thamama producer (a deeper gas condensate reservoir underlying the Ilam/Mishrif) and electric log readings over the Ilam/Mishrif section indicate good oil saturated reservoir. The Participation Agreement with Crescent gives Sky Petroleum the right to participate in a share of the future production revenue by contributing up to $25 million in drilling and completion costs related to two obligation wells in the Mubarek Field, offshore United Arab Emirates. write your comments about the article :: © 2006 Construction News :: home page |