Sibir Energy now ready to progress to growth and profit
dollarhogger - Thu, 29 Dec 05 :
Hi Davron
I agree, with Sibirs exploration an development skills a greensite acquisition is most likely.
No one has revisited the fact thet Sibir has four drillin rigs completin wells in less than 15 days i.e. 8 per month since mid Nov 2005. From historical records each will be producin around 500 bbls plus per day. Thets 4,000plus bbls/day more than notification of Big Oil date.....
Now this followin article has bin good news for Dragon Oil holders - but it just aint in the same league!!!!! However, it is confirmation thet more oil may be delivered than originally expected, Sibir prides itself on its advanced drillin techniques!!
Dragon Offshore Well LAM10/112 Starts Production
Wednesday, December 28, 2005
Latest Oilvoice Headlines
Dragon Oil reports that well LAM 10/112 drilled from the refurbished LAM 10 platform in the Cheleken Contract Area, offshore Turkmenistan, has tested oil from Zones 4, 5 and 6 at a combined rate of 2,950 barrels of oil per day, (“bopd”).
Well LAM10/112 was spudded on 14th October 2005 and drilled to a total depth of 3,629m in reservoir Zone 7. The well was successfully completed using a dual completion which enables two reservoir intervals, at different reservoir pressures, to be produced simultaneously.
Reservoir Zones 5 (lower part) and 6 were produced through the lower completion string and tested at a rate of 2,087 bopd. The upper part of reservoir Zone 5 and Zone 4 was produced through the upper completion string and tested at a rate of 863 bopd. Both intervals will be produced together.
The Iran Khazar jack-up rig has been skidded to commence drilling the fourth well from the LAM 10 platform, well LAM 10/113. This well is planned to be drilled to a total depth of around 3,700 metres.
Hussain M. Sultan, Chairman of Dragon commented:
”We are pleased with the result of well LAM 10/112 which was drilled using dual completion technology.”
