OML 115 Ongoing Programs
In 2006, the OML 115 project team conducted seismic and geologic studies resulting in the definition of four confirmed exploratory drilling prospects and three to four potential exploration drilling prospects (leads). They are as follows:
Seismic Program.
Continue block-wide seismic structural and stratigraphic mapping and prospecting at Qua Iboe sand levels to confirm Alpha, Beta, and Gamma exploration leads (light crude oil prospects). Commence seismic mapping in the Isongo section for Alba Field equivalent reservoirs in the southern portion of OML 115 (condensate and natural gas prospects).
Geological Program
Continue block-wide geologic reservoir facies mapping and prospecting at Qua Iboe sand levels to confirm Alpha, Beta, and Gamma exploration leads (light crude oil prospects). Commence geologic mapping in the Isongo section for Alba Field equivalent reservoirs in the southern portion of OML 115 (condensate and natural gas prospects).
Drilling Program
Oriental has been joined recently by a new Joint Venture partner and Technical Advisor, EER Oil & Gas Limited, and will now take the steps necessary to secure a suitable drilling rig to drill one of the defined exploration prospects this year. Owing to the tight rig market, it may not be possible to spud this well in 2007, although every effort will be made to do so. Oriental has therefore committed to drill one exploratory well in 2007, subject to rig availability.
Facilities Engineering Work Program
The OML 115 drilling program is designed to confirm commercial volumes of hydrocarbons. Preliminary development planning envisions the sharing of production processing facilities with the Okwok Field's development to take advantage of Oriental's common ownership of both blocks. The current plan envisions first commercial oil production from OML 115 in early 2009.
Environmental Impact Assessment
Oriental completed a block-wide Environmental Impact Assessment (EIA) for OML 115 in 2004.
