Big drilling and fact-finding programme will be launched in Morocco

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An independent oil and gas exploration and production company named Gulfsands Big drilling and fact-finding programme will be launched in MoroccoPetroleum is planning a big drilling and fact-finding programme in Morocco as part of its move away from business in Syria. It would start drilling the first well of a five-well campaign in early September 2013 in its Rharb permit area.
The company will also launch a seismic data-gathering exercise in the less predictable Fes region to help spot extra drilling targets and more accurately pinpoint potential drilling sites already earmarked. It has shifted its attention to Morocco after the conflict in Syria hit its operations in that country. Gulfsands agreed to buy onshore licenses in Morocco last year.
The company’s major focus is on the Middle East and North Africa where it has oil production and exploration, and development projects in the Syrian Arab Republic. The AIM quoted firm has now hired a drill unit for a minimum of nine wells while the other four wells will e drilled from the second quarter of 2014 onwards.
The programme will focus on shallow gas anomalies at depths between 1,000 and 1,650 meters which are similar to adjacent commercial discoveries. The targets will be selected with the help of the data from the new 3D seismic that is currently being carried out. Each well can be drilled in about 25 days and the mobilization time between well is estimated to be in seven days time. A successful hole has an estimated cost of $2.5m while a dry hole will cost about $1.75m to $1.9m.
The management are focused on making a success of the Rharb drilling programme and towards targeting to the early commercialization of the gas resources in the region. In addition, Gulfsands will carry out 2D seismic on the Fes permit of which results are expected by the end of the year and will help inform a three well programme next year.