Melrose makes discovery offshore Bulgaria

Melrose Resources has made a discovery with exploration well Galata E3 – Kaliakra, offshore Bulgaria. Atwood Cross drilled the well.

Offshore staff

EDINBURGH, UK -- Melrose Resources has made a discovery with exploration well Galata E3 – Kaliakra, offshore Bulgaria. Atwood Cross drilled the well.

The well targeted a Palaeocene-aged formation nearby the Galata gas field. It intersected the top reservoir at 2,743 ft (836 m) MD and found a gross hydrocarbon column of 46 ft (14 m), according to Melrose. Open-hole log data indicates a net pay interval of 33 ft (10 m) with an average porosity of 31% and high gas saturations, the company says. The well has been suspended for use as a production well.

Plans are now being formulated for the development of the field with a subsea completion tied back to the Galata platform production facilities. First production is expected by mid-2009.

Based on the open log data, the reserves in the immediate vicinity of the well are estimated at seven bcf of natural gas and there is additional upside in the field of over 40 bcf if a shale-filled channel to the east of the structure acts as an effective seal, according to Melrose.

The company says expects to reduce its working interest in the Block Galata to around 60%.

01/22/2008

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