Offshore staff

LONDON – Circle Oil says a 5,026 line km (3,123 mi) 2D seismic survey was completed early this year on block 52 offshore Oman.

Following processing, the data has undergone detailed interpretation. Work to date reveals multiple large prospects that should provide targets for exploration drilling.

Circle says nine large four-way dip closed prospects have been identified and firmed up in the Outer Sawqirah area of the license.

Analysis suggests reserves in place for these nine prospects (the most likely unrisked case) could be 726 MMbbl. Ultimate recoverable resources are estimated at 2,179 MMbbl.

Interpretation has been finalized and Circle has started a farm-out process.

09/12/2011