Corcel plc said that a workover had started in the EI-1 well on the IRAI gas field located in the state of Bahia, onshore northeast Brazil.
PROMISING
Field operator Petroborn Óleo e Gás S.A’s work is part of a two-well workover programme.
Corcel holds an option to acquire an interest in the field, which lies in the Tucano Sul Basin about 110km northwest of Salvador.
The company noted that IRAI had shallow gas reservoirs, with “good quality” producing gas zones ranging in depth from 220-825m.
Chief executive Scott Gilbert added: “We are delighted that this project is going to plan and we look forward to the results of the workover programme in this promising field.”
In November 2024, Corcel signed a binding option for a 20% interest in IRAI, with first right of refusal on the remaining 80%.