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Melrose updates Europe exploration plans

Melrose Resources has outlined its upcoming work programs in the Black Sea and offshore southern France.

Offshore staff

EDINBURGH, UK – Melrose Resources has outlined its upcoming work programs in the Black Sea and offshore southern France.

In the Bulgarian offshore sector, the program includes one well on the central area of the Galata block, north of the Galata/Kaliakra discovery trend.

Selection of the well location is pending interpretation of the recent Galata block 3D seismic survey, but will probably be at Chaika-1, targeting a structure with prospective resources of 80 bcf and a chance of success of 26%.

To improve economic returns from the Kavarna East project, Melrose has opted for a low-cost scheme under which the field will share the same subsea flow line as the existing Kavarna development.

Recent studies suggest 2013 would be the optimum time to introduce the Kavarna East gas into the flow line to maximize the combined fields’ withdrawal rate. Kavarna East development, therefore, has been deferred by one year to allow it come onstream in the second half of 2013.

Melrose has allocated $12 million for seismic acquisition on the Muridava and Est Cobalcescu concessions offshore Romania, the company’s first exploration activity in the sector.

It plans to acquire 900 km (559 mi) of 2D data and 1,300 sq km (502 sq mi) of 3D data over the blocks next summer. The main focus of the Muridava program will be Eocene and Cretaceous leads and prospects in the same play as the Olimpiskiyi discovery and Lebada oil fields.

The East Cobalcescu survey will target the Miocene and Pliocene gas plays on trend with the Cobalcescu, Ana, and Doina finds.

Melrose has also set aside funds for technical studies on the Rhone Maritime block off southern France. License operator Noble Energy is finalizing interpretation of a recent 2D seismic survey.

12/16/2011

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