COSL Completes Seismic Survey in Block 33/07, East China Sea

Primeline Energy Holdings Inc. announced that its contractor, China Oilfield Services Ltd. (COSL), has completed the 3D seismic survey of 600 sq. km in Block 33/07, East China Sea announced by Primeline on March 31, 2014.

The survey commenced on March 31 and as the weather and sea conditions were good, COSL was able to complete the survey ahead of the planned schedule and the final line was shot on May 2, 2014. The data will now be shipped to COSL’s processing center and it is estimated that processing will commence around mid-May. The processing will take about 4-5 months and will allow Primeline to merge the new data with the existing 3D seismic data for interpretation in Q3 2014.

Primeline has existing 3D seismic data covering the LS36-1 gas field development and its immediately surrounding prospects. The 600 sq. km area surveyed by COSL is located to the north of and adjacent to the existing 3D seismic data area. The new survey is intended to provide better definition of the prospects and leads that have previously been identified in the survey area using 2D data, in order to generate more drillable prospects.

In the meantime, the LS36-1 gas field development is progressing well with CNOOC Limited, as operator, working on the final connection to allow the production to commence soon. Based on current information from CNOOC, the target for first gas remains sometime in Q3 2014.

Press Release, May 07, 2014; Image: Primeline