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200 million barrels of oil confirmed in offshore Tunisia

Following conclusion of the conceptual field development plan for the Hammamet West oil field in the Gulf of Hammamet, Tunisia, Cooper Energy is pleased to announce that the field is estimated to contain over 200 million barrels oil in place (P50).

The Hammamet West Oil Field was discovered in 1967 by the Hammamet West-1 exploration well, which discovered 7 meters of oil on rock in the Birsa sandstone formation. In 1990 the Hammamet West-2 appraisal well discovered a further 192 meters of oil in the deeper Abiod carbonate formation. The Abiod was production tested and 33° API oil was recovered but the reservoir was deemed to be tight. A review of the well test has indicated that the Abiod was tested by cementing in the production casing, which is not considered to be prudent production practice for a reservoir that depends on natural fractures for productivity.

Evaluation of the Hammamet West-2 core and image logs demonstrate that natural fractures do exist in the Abiod and a well drilled with the appropriate drilling technology may produce at economic rates.

11/14/2009

 

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