UK Oil & Gas plc (UKOG) said that new completed seismic data could indicate a single hydrocarbon accumulation present over the entire 60km² Basur-Resan anticline.
BASUR-RESAN
The Basur-Resan anticline containing the Basur-1 oil discovery lies within the surrounding 305 km² Resan M47-b1, b2 licence.
The company’s wholly owned subsidiary, UKOG Turkey Ltd, holds a 50% non-operated interest and operator Aladdin Middle East Ltd owns 50%.
DATA
Seismic processing has been completed of the 55km of new 2D seismic at Basur-Resan.
UKOG said its initial review indicated that the new data was “an improvement on the prior 1982-92 seismic data, further confirming the prospectivity of the Basur-Resan hydrocarbon accumulation”.
“As originally planned, the new data will help facilitate the correct placement and design of the future Basur-3 sidetrack (B-3S) and Resan-6 (R-6) appraisal wells,” added the company in a statement.
HYDROCARBON POOL
The new seismic line AME-21-8 is the first seismic line running northwest to southeast along the ‘strike’ or geological axis of the Basur-Resan anticline and passing through key Basur and Resan wells.
UKOG said that it indicated both Basur and Resan were part of the same 60 km² anticline and could potentially contain one common hydrocarbon pool.
The company is awaiting the operator’s drilling cost comparisons, expected timings and final recommendations.
VIABILITY
Chief executive Stephen Sanderson added that the new seismic linked for the first time the original Basur-1 discovery with the Resan wells.
“As originally envisaged, the new data will also help facilitate the correct placement and design of the future planned B-3S and R-6 appraisal wells, designed to determine the future commercial viability of Basur-Resan.”