Empty well fails to dampen spirits at Matra in Russia
15 May 2008
Oil and gas E&P company Matra Petroleum has reported mixed results from the latest test drilling at its 100pc owned Arkhangelovskoe license in Orenburg, Russia.
Matra said testing at exploration well Arkhangelovskoe-11 had recovered some positive signs but was largely unproductive. The announcement follows news last November that the company had made an oil discovery at Arkhangelovskoe-12 – its first exploration well in Russia.
Matra's managing director, Peter Hind, put a positive spin on the latest findings. He said the drilling would help the company get a better understanding of the Sokolovskoe discovery in the north of the block.
“Whilst any unproductive well is disappointing, it doesn't dampen our enthusiasm for this block,” he said. “Well-11 confirms that the existence of oil is widespread across this block and provides us with another tie-in point to the seismic interpretation.”
Hind said the latest available seismic data gave Matra a greater understanding of the of the reservoir structures under the block. He added that the company expected that the optimum locations for the next two wells would be finalised shortly.
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