Nautical targets further reserves around Kraken

Nautical Petroleum has secured a rig for further drilling well on its heavy oil Kraken discovery in the UK North Sea.

Offshore staff

LONDON -- Nautical Petroleum has secured a rig for further drilling on its heavy oil Kraken discovery in the UK North Sea.

The semisub Ocean Nomad is set to drill the well this summer in the southwestern part of the accumulation in block 9/2b, the program comprising an appraisal well, an exploration well, and tests.

The appraisal well will assess the southern extent of the accumulation identified by previous wells 9/2-1 A and 9/2b-2. According to Nautical, the chief aim will be to recover cores and obtain fluid samples, with the data being used to optimize the planned field development.

Its location will be within the mapped structural closure, an anomaly revealed on a controlled source electromagnetic survey, and an area of high amplitude on the seismic.

Ocean Nomad will drill the exploratory well to the west to investigate three potential reservoirs, with prospective resources of 114 MMbbl in the Heimdal III and deeper Heimdal I reservoir targets.

Nautical is progressing development planning and concept selection studies in anticipation of a successful outcome to the appraisal well. It aims to submit a plan to the UK government by end-2010.

“Our considerable study work performed over the last six months has significantly improved the understanding of the subsurface,” said Nautical CEO Steve Jenkins. “We are confident that we can now predict the reservoir distribution and hydrocarbon extent with more certainty.”

At present, the company is looking at a phased development focussed initially on the core Kraken area, leading to first oil by 2012. Existing production facilities could be brought in to help deliver this timetable.

04/06/2010

More in Drilling & Completion