LONDON--Oil company BP PLC (BP.LN) said Friday that a
significant gas condensate discovery was made in Deepwater KG D6
Block, offshore India, in which it has a 30% shake.
MAIN FACTS:
-The KGD6-MJ1 well was drilled in a water depth of 1,024 meters
- and to a total depth of 4,509 meters - to explore the
prospectivity of a Mesozoic Synrift Clastic reservoir lying over
2,000 meters below the already producing reservoirs in the D1-D3
gas fields.
-Formation evaluation indicates a gross gas and condensate
column in the well of about 155 meters in the Mesozoic
reservoirs.
-In the drill stem test, the well flowed 30.6 million standard
cubic feet per day and liquid rate of 2,121 barrels a day with a
choke of 36/64" with a flowing bottom hole pressure of 8,461 psia
suggesting good flow potential.
-Well flow rates during such tests are limited by the rig and
well test equipment configuration.
-The discovery, named 'D-55', has been notified to the
Government of India and the Management Committee of the block.
-This discovery is expected to add to the hydrocarbon resources
in the KG D6 block. Appraisal will now commence to better define
the scale and quality of the field.
-Reliance Industries Ltd is the operator of KG D6 with 60%
equity; BP has a 30% share and NIKO the remaining 10%.
-Shares at 1405 GMT, up 19 pence, or 2.2%, at 899 pence valuing
the company at GBP438 million.
-Write to Rory Gallivan at rory.gallivan@dowjones.com; Twitter:
@RoryGallivan
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