Premier gives Isobel another go
Premier Oil, an independent exploration and production company, started drilling the 14/20-2 ‘Isobel – 2’ well, offshore the Falkland Islands, on Saturday, November 21, 2015.
The Isobel – 2 is an exploration well on the Isobel/Elaine fan complex. It is located on licence PL004a and lies approximately 4 km away from the 14/20-1 Isobel Deep oil discovery, which penetrated the first 24m of the Isobel Deep reservoir but failed to reach total depth owing to operational issues in May of this year.
Premier Oil is the operator with 36% interest, Falkland Oil and Gas Limited (FOGL) has 40% working interest, and Rockhopper 24% working interest.
The well, which will be a re-drill of the Isobel Deep formation at that reservoir level will also intercept four other fans within the complex comprising Irene, Doreen Elaine South and Isobel.
Sam Moody, Rockhopper CEO, commented: “The second well on the Isobel/Elaine complex represents an exciting chance to significantly increase the volume of proven oil in the basin. Not only does it give us another opportunity to explore the Isobel Deep fan, but also a number of further fan bodies in the Isobel area which have never previously been drilled.”
According to FOGL, the well will test the F3 fan systems, which are mapped as entering the basin from the south east margin and comprise a sequence of stacked reservoirs. In addition to Isobel Deep, the well will also penetrate four other fans within the complex, comprising: Elaine South, Isobel, Doreen and Irene. The Elaine/Isobel fan complex, based on the operator’s estimates, has multiple reservoir targets and gross, mean un-risked resources of 400 million barrels of oil.
Tim Bushell, Chief Executive of FOGL, said: “I am very pleased to announce the spud of Isobel 2, the final well in our 2015 exploration drilling programme. Finding oil in the original Isobel Deep well was very encouraging and the Isobel 2 well location will further evaluate this discovery. This well location also allows us to explore four other fans and hence, provides an opportunity to assess the significant oil resource that may exist within the Isobel/Elaine complex.”