News Oil & Gas

Block completes deepening JSR-01 in Patardzeuli

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Block Energy plc has completed deepening the JSR-01 well in the Patardzeuli oil field in Block XIB in Georgia.

Encouraged: Block Energy drilled JSR-01DEEP safely and successfully as planned (Block Energy)

PROJECT II

The company began drilling JSR-01DEEP in early September, marking the start of Project II, one part of a three-project strategy.

Block Energy aims to evaluate a contingent resource of 200 MMbbls of oil and accelerate near-term oil production and revenue.

Project II focuses on the Patardzeuli oil field, within Block XIB, which Block says is the most prolific field in Georgia, having produced over 100 MMbbls of oil.

The company self-funded the deepening of the well using cash generated from existing operations.

PROGRESS

“We are encouraged by the progress made to date, with drilling at JSR-01 having been safely and successfully completed as planned,” said chief executive Paul Haywood.

“Preparations are already underway for testing.”

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  1. Pingback: Block Energy production and revenue fall from Georgia operations - Extractive Industries

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