UK Oil & Gas plc (UKOG) announced construction had started of the drilling pad and access road for Basur-3 appraisal well at the 50%-owned, 305 km² Resan licence in Turkey.
UKOG and joint venture partner Aladdin Middle East are expected to take some 60 days on the construction.
Basur-3 lies approximately 1.2km north and geologically up-dip from the 1964 Basur-1 oil discovery well. This produced 500 barrels (bbl) of oil from a short six-hour swab test, equivalent to an extrapolated daily rate of 2,000 bbl of oil per day.
Basur-3 is the first modern appraisal well designed to confirm the extent and commercial prospects of the discovered Basur-Resan Mardin oil pool.
It will test the north western structural culmination of the 45 km² Basur-Resan geological structure.
Basur-Resan’s Mardin oil pool is estimated to contain aggregate gross mean and high case discovered recoverable resources of 37.2 million barrels (mmbbl) and 67 mmbbl respectively.
UKOG’s corresponding 50% net share being 18.6 mmbbl (mean case) and 33.6 mmbbl (high case).
SPEED
“The breaking of ground at the new Basur-3 drilling site makes this material appraisal project very real and tangible,” said UKOG’s chief executive Stephen Sanderson.
“The speed of entry into the operational phase, barely two months after government ratification of our entry into Turkey and despite pandemic constraints, nicely demonstrates the ability to move projects forwards at pace in Turkey, a welcome change from the UK.
“We salute our highly experienced partner Aladdin Middle East’s efforts in this respect and look forward to drilling and testing once the site is completed.”
UKOG’s other interests are in onshore oil and gas in the South of England.
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