RAK Petroleum to resume development drilling in offshore the Sultanate of Oman.

Published: May 19, 2010

Offshore staff

RAS AL KHAIMAH, UAE -- RAK Petroleum aims to resume development drilling in block 8, offshore the Sultanate of Oman.

The company holds a 50% operated interest in the block following its acquisition of Heritage Oil’s 10% share early last year. Korea's LG International holds the remaining 50%. Two fields, Bukha and West Bukha, are under development.

Production from the West Bukha started in early February 2009 following commissioning of a newly installed platform, and by year-end was averaging 10,000 b/d of oil and 30 MMcf/d of gas.

"We believe that block 8 has additional untapped potential both in terms of proven reserves and production," said RAK CEO Bijan Mossavar-Rahmani. "After performing extensive reservoir studies and well monitoring during the year, we have applied for government approval to drill in 2010 a third well on the western side of West Bukha and a further well on Bukha."

The company also expects drilling to start shortly in the Hammamet offshore license off Tunisia, where it recently acquired a 30% stake from Canadian operator Storm Ventures International. Australia’s Cooper Energy is the other partner.

The license area, awarded in September 2005, contains two ready to drill prospects, the first of which, Fushia, could be drilled this summer. Fushia comprises four structures separated by semi-parallel faults that have been mapped on 3D seismic. Potentially, the structure could contain hundreds of millions of barrels of in-place oil, says RAK.

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Eagle Energy (Oman) Limited purchased by RAK

9 April 2009

DUBAI - RAK Petroleum PCL, a leading oil and gas exploration and production company, has announced the purchase of Eagle Energy (Oman) Limited, a wholly-owned subsidiary of UK-based Heritage Oil Limited, for a cash consideration of $28 million.

Eagle Energy holds a 10 per cent interest in Block 8, Sultanate of Oman. The acquisition brings RAK Petroleum’s total shareholding in the block to 50 per cent. RAK Petroleum announced in February 2009 that first production from Block 8’s West Bukha field, located offshore in the Strait of Hormuz, had commenced with an initial capacity of 10,000 barrels per day of 42 degree API gravity oil and 30 million cubic feet per day of associated gas from two wells located in some 25 kilometres off the Musandam Peninsula.

“This acquisition increases our exposure to West Bukha’s potential and also underscores our commitment to investing in the upstream sector in the sultanate of Oman,” said Abdulaziz Al Ghurair, chairman of RAK Petroleum’s board 
of directors.

Between 2006 and 2008, drilling by RAK Petroleum demonstrated significant oil productivity from the Mishriff-Maudud and Thamama reservoirs, leading to the recent completion of field development. 


business@khaleejtimes.com

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Heritage Oil Announces First Oil From West Bukha Field, Oman

Wednesday, February 18, 2009

Heritage Oil Limited, an independent upstream exploration and production company, announces the commencement of oil and associated gas production from the West Bukha field in Block 8, located in the Strait of Hormuz offshore of the Sultanate of Oman ("Oman").

Heritage has a 10% working interest.Highlights- Initial gross flow rates of approximately 15,000 barrels of oil equivalent per day, comprising 10,000 barrels of 42 degree API oil and 30 million cubic feet (MMcf) per day of associated gas- West Bukha field has additional untapped potential- Provides a significant increase in current production levels for HeritageThe West Bukha field in Oman has commenced production with initial flow rates of approximately 10,000 barrels per day of good quality, light sweet, 42 degree API oil and 30 MMcf per day of associated gas from the Mishriff-Maudud and Thamama reservoirs.

Production is from two wells through a recently installed six-slot unmanned platform located in 90 metres of water approximately 25 kilometres from the Musandam Peninsula. The field is considered to have additional untapped potential which will require further appraisal.Production is tied through a sub-sea 12-inch multiphase flow line to the nearby Bukha production platform.

The Bukha gas condensate field, also in Block 8, commenced production in 1994 and today can flow an additional 10 to 15 MMcf per day of non-associated gas with condensate. Output from the two fields is transported to shore by a 33-kilometre multiphase pipeline for processing at the Khor Khwair plant in the Emirate of Ras Al Khaimah. Oil and condensate are slated for export and gas is delivered to industrial and commercial users in the Emirate.Eagle Energy (Oman) Limited, a wholly-owned subsidiary of Heritage, acquired its 10% working interest in Block 8 offshore Oman in 1996.

The licence area covers 423 square kilometres containing the Bukha gas condensate field and the West Bukha oil field. The West Bukha field straddles the maritime boundary between Oman and the Islamic Republic of Iran.Tony Buckingham, Chief Executive Officer, commented:"The successful development of the West Bukha field brings onstream a material increase to Heritage's production. Additionally, there is further potential within the field that is yet to be appraised which could provide a further boost to production levels. This marks a significant milestone for both the project and the joint venture partners."Heritage Oil has a 10% interest in Block 8 offshore Oman. The other joint venture partners are RAK Petroleum (operator and 40% interest) and LG International (50% interest).

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Indago Petroleum Begins Drilling in ِAdam, Oman

Indago Petroleum Limited, the oil and gas exploration company exploring onshore the Sultanate of Oman, announces the commencement of drilling of the Company’s Zad well on the Adam Prospect ("Adam") in Block 47.

The well, which spudded on 20th May, is forecast to take around 100 days to drill and is targeting the Cambrian Amin Sandstone reservoir at a depth of around 4,250 metres. Adam is estimated by the Company to have gross mean prospective resources of about a half trillion cubic feet of gas and substantial associated condensate.

The Kauther Field, operated by PDO, is an analogue for Adam. Kauther lies some 45 kilometres to the south of Adam and came on-stream in October 2007 producing gas and gas condensate from the same Amin Sandstone reservoir. The proximity of a major pipeline which runs through Block 47 to Muscat, the capital and largest population centre in Oman, is a factor that the Company believes enhances the chance of a discovery at Adam being a commercial success.

David Bremner, CEO, commenting on today’s announcement said: "We are excited to get the Zad well underway and expect a more straightforward operation than we had with our recent Al Jariya well. Whilst Adam is considerably smaller than the Jebel Hafit prospect, a discovery would be highly significant for Indago. It could also help achieve a critical mass for the development of other existing and future discoveries in the immediate area." Indago holds an approximate 50% interest in Oman Block 47. The Operator, RAK Petroleum PCL, holds the balance of the interest.

Oman and RAK face problem while drilling well

By Agencies on Sunday, March 30 , 2008

RAK Petroleum and Oman’s Ministry of Oil and Gas are evaluating other drilling options for the Al Jariya-1 high impact exploration well, close to the border with Abu Dhabi, said RAK Petroleum.

RAK Petroleum, through its wholly owned subsidiary, RAK Petroleum Oman Limited, is operator of Block 31 in Oman, where it is drilling the Al Jariya-1 well, which is located at Jebel Hafit, close to Oman’s border with Abu Dhabi.

Chief Executive Officer Peter Sadler said: “While drilling at a depth of 5,131 metres, we encountered an area of high pressure and the well took an unexpected influx of water and gas.”
He said the resulting high pressure experienced at surface and the hole conduit well have severely complicated rigging operations.

“Proceeding in a steady, safe manner, we are intending to carry out surveys to ascertain the current status of the open section of hole and then formulate a plan to ensure that the zone is isolated in the well,” he added.

Sadler said RAK Petroleum has been examining the rock cuttings from the formation encountered close to the bottom of the hole, along with temperature information just prior to and during the well control incident.

“It is apparent that the formation encountered immediately prior to the well control incident is a limestone unit of Campanian age,” he noted, adding that the finding contrasts with the first reservoir objective, the Natih formation, which is a shelf carbonate of Cenomanian age, about seven million years older.”

The company said it estimated the Natih to be between 20 metres and 180 metres [with a best estimate of 50 metres] deeper than the deepest point currently reached.

According to the company, Shuaiba (Thamama) is anticipated to lie another 200 metres down and separated than the top of the Natih. The source of the formation fluids that flowed to surface is uncertain.

Temperature information is not conclusive but the fluids could originate from the limestone stringer encountered, or slightly deeper if a fault had been intersected.

In order to drill deeper than the current level, Sadler said the company will, at the least, have to abandon the existing section of open hole below 4,591 metres and sidetrack from inside the existing casing. RAK Petroleum is drawing up plans in conjunction with Omani Oil and Gas Ministry and Indago Petroleum Limited, which holds an approximate 50 per cent interest in Block 31. RAK Petroleum, holds the rest.

Last Update at 8:56 am on March 30, 2008,

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RAK Petroleum will start oil production from its West Bukha field in Oman in August 2008

Jupiter Kalambakal - AHN News Writer
Abu Dhabi, United Arab Emirates (AHN)- United Arab Emirates' RAK Petroleum will start oil production from its West Bukha field in Oman in August.
The $200 million Oman oil field is expected to produce oil at 10,000 to 15,000 barrels a day by the end of August.
The gas exploration beneath Jebel Hafit Mountain is estimated to hold some one billion barrels of oil. Production was delayed as drilling is some 900 meters away from the target depth of 5,900 meters.
RAK Petroleum, majority owned by the government of Ras al Khaimah, one of the seven emirates, has operations in the U.A.E. and Oman.
RAK is in talks with several northern emirates to explore in marginal fields where record oil prices makes drilling profitable.
Investment plans are underway for power plants in the U.A.E. to supply electricity to Ras al Khaimah and other emirates. Gas from West Bukha, about 40 million cubic feet a day, will be delivered through a pipeline to Ras Al Khaimah.
RAK was selected to bid for oil exploration blocks in Yemen and Angola, and has expressed interest in Iran's oil and gas fields.

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