UK Oil & Gas plc (UKOG) and its joint venture partner have found no commercial rates of hydrocarbons and have stopped testing at the Pinarova-1 well in Turkey.
SEEPAGE
UKOG said that drilling and testing results indicated Pinarova had likely penetrated the “southernmost feather edge of a small oil accumulation” within the Germik/Hoya sequence, stretching updip towards Kezer-1.
“Preliminary analysis of all data indicates that the source of these shallow light oils is most likely from spill or seepage from an underlying deeper light oil pool in the Kezer-Pinarova area.
“We will continue to investigate the commercial potential of both these future targets.”
Testing involved detonating 7-inch perforating guns at 12 shots per foot over a 40ft section of Germik/Hoya sequence, a comprehensive injectivity and swab testing programme, followed by an acidisation operation and further swab testing.
The company added that costs for the operations were kept to a minimum throughout operations.
“Exploration drilling and testing is never guaranteed to deliver success, even if all prior indicators are positive,” said chief executive Stephen Sanderson.
“This is certainly the case for Pinarova-1, and we are disappointed by the lack of commercial flow.
“We will continue to analyse all data and explore both the potential updip shallow Germik/Hoya accumulation and the likely more significant deeper pool objective, the most probable source of the observed shallow hydrocarbons and shot-hole oil seep.”
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