Indago entered a Petroleum Concession Agreement with Ras Al Khaimah, and a Joint Operating Agreement with its partner, the Ras Al Khaimah Gas Commission, a government company, to investigate further production potential in Saleh field
Offshore staff
DUBAI, UAE -- Indago entered a Petroleum Concession Agreement with Ras Al Khaimah, and a Joint Operating Agreement with its partner in this venture, the Ras Al Khaimah Gas Commission, a government company, to investigate further production potential in Saleh field.
Indago's concession encompasses the Saleh offshore gas field located 42 km off Ras Al Khaimah. Saleh is a multi-well, multi-platform development in production since 1984. After peaking at approximately 70 MMscf/d gas and 13,000 b/d condensate in 1986, production has declined due to pressure depletion and encroaching water. Saleh production now averages approximately 100 b/d of condensate and a small amount of gas. Rakgas treats the gas/condensate product at the onshore processing plant in Ras Al Khaimah, which also processes production from the Indago operated Bukha field.
The Joint Venture (Indago as operator with 40% and Rakgas with 60%) intends to conduct a full study of the field including the processing and interpretation of a 3D seismic volume that was acquired previously. Indago hopes to improve subsurface geology imaging using the latest seismic processing techniques and equipment. Indago believes the field could have unrealized potential which may result in the drilling of additional production wells .
Indago expects to provide further updates on the Saleh project during the next 12 months.
