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Saudi Aramco Ready to Spud its First Deepwater Well in Red Sea

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Saudi Arabia’s state run oil giant, Saudi Aramco, has decided that the company is ready for deepwater exploration in the Red Sea.

 

At the Ceraweek 2012 conference in Houston, Amin H. Nasser, Senior vice president, Upstream Operations in Saudi Aramco, unveiled the company’s plans to start the Red Sea deepwater drilling operations by the end of 2012.

“We are optimistic about the potential for significant discoveries. We expect to start drilling in the deepwater by the end of this year,” Dow Jones quotes Nasser as saying.

Nasser, who joined the company in 1982, said that Saudi Aramco was working to increase its oil recovery levels from 50% to 70% in the years to come. He also highlighted the importance of deepwater and shallow water drilling in the company’s long-term plan to unlock “at least 100 million barrels of energy resources within the Saudi Arabian kingdom in the next several decades,” Dow Jones reports.

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Australia: Tap Announces Spud of Hannah-1 Well

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Tap Oil Limited (“Tap”) provides the following information on the Hannah-1 commitment well, offshore Carnarvon Basin, Western Australia.  The Hannah-1 well is located in permit TP/8, approximately 18km east of Barrow Island. The well will be drilled in water depth of 16m by the jack-up rig Ensco 104.

The well will test a stratigraphic oil play in the lower Cretaceous Barrow Group. The primary target is expected to be intersected at approximately 1,200m. Hannah-1 is expected, on a trouble free basis, to take 10 days to reach a final total depth of 1,368m.

Progress

The Hannah-1 well commenced at 05:30 today AWST, 10 November 2011.

Forward Plan

The Hannah-1 well will be drilled in 311mm (12¼”) hole to 625m where casing will be set before resuming drilling to final total depth.

TP/8 Joint Venture Participants

Apache Northwest Pty Ltd 68.5000%

Kufpec Australia Pty Ltd 19.2771%

Tap (Harriet) Pty Ltd 12.2229%

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