Offshore staff
CALGARY, Canada – GeoGlobal Resources expects its Myra-1 well offshore Israel to reach total depth shortly, despite a stuck pipe incident early last month.
Drilling could not continue according to the original plan, so the Myra license partners agreed to side track the current hole and continue drilling to reach the gas target.
The partners have approved a $4 million increase in the budget for the well and an additional seven-day extension in which to complete the drilling.
Myra-1 is in the Levantine basin in 1,500 m (4,921 ft) water depth, around 80 km (49.7 mi) offshore Israel.
Paul B. Miller, president and CEO of GeoGlobal, said: “As previously announced, the company is side tracking the Myra-1 well following an unexpected loss of circulation event. To this point we have not obtained any information, either positive or negative, with respect to the presence of hydrocarbons in the well…
“We also continue to finalize preparations for the drilling of additional wells in Israel, which included securing an extension to the drilling deadlines at the Samuel license.”
This year the company expects to complete drilling of two deepwater exploration wells, the other being on the Sara license. In addition, the company it is on course to complete processing and interpretation of recently acquired43 sq km (17 sq mi) of ocean bottom cable 3D seismic data and to start drilling the first exploration well in the Samuel license.
9/4/2012
