Offshore staff

MUMBAI, India -- ONGC Videsh and IPR Red Sea Inc. have made a second oil discovery in the North Ramadan Concession, Gulf of Suez, Egypt. The discovery well, NR-2, is located on a separate fault block north of IPR's first oil discovery, NR-1A ST1, which produced approximately 3,000 b/d of oil and 1.5 MMcf/d during the testing phase.

NR-2 was drilled to a total depth of 11,700 ft (3,566 m) measured depth in the Lower Miocene Mheiherrat formation. A total of 113 ft (34 m) over a gross interval of 286 ft (87 m) of interbedded sandstones, shales, and limestones in the Asl formation were perforated, the company says.

Tests of the reservoir produced up to 800 b/d of oil (34°API gravity) and 0.50 MMcf/d on natural flow with no water. IPR's adjacent offshore platform and facilities infrastructure, North July, will provide an option for expedited development for the NR-1A ST1 and NR-2 discoveries, the company says. Further analysis for development of the prospect is in progress.

ONGC Videsh and IPR are in the first phase of exploration in North Ramadan and have one remaining exploratory well to drill, North Ramadan-3 (NR-3), which is scheduled to spud in November. The partnership has already acquired 205 sq km (531 sq mi) of 3D seismic during Phase I and has identified several key prospects that will be pursued in the subsequent exploration phases.

11/17/2008