HAI YANG SHI YOU 935 (Korea National Oil Corporation) (Jackup)

Horizon Oil spuds first of two wells in China

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11 September 2014

Horizon Oil has advised that drilling has commenced on the first of two exploration wells in Beibu Gulf Block 22/12, offshore China. The first well, WZ 12-10-1, is targeting the T42 and Weizhou West formations, adjacent to the WZ 12-8E field of the WZ 12-8 Development Area. The second planned well in the sequence is the WZ 12-10-2 well, located adjacent to the WZ 12-8W field. Concurrently, the Development Area has been expanded to fully include the prospect, increasing the WZ 12-8 Development Area by 8.8 sq km to 66.6 sq km. Drilling operations are being performed by the jackup rig ‘HAI YANG SHI YOU 935’ and commenced at 10.30 pm China Standard Time on 10th September 2014 and the current operation is cementing 20” conductor casing at a depth of 120 m. Total depth planned for this vertical well is 1,539 m. The well is located 4.7 km east northeast of the existing WZ 12-8W platform and is in water depth of approximately 35 m.

Source: http://www.horizonoil.com.au/documents/BeibuGulfExplorationdrillingcommences.pdf


More News for Operator: Korea National Oil Corporation

29 Sep 2014

CNOOC strikes oil at Beibu

Roc Oil (China) Company, a wholly owned subsidiary of Roc Oil Company Limited (ASX: ROC), advised drilling was completed on the first of two exploration wells in the Beibu Gulf Block 22/12. The WZ12-10-1 well has discovered oil pay in the Jiaowei (T42) formation, while no oil pay was interpreted in the Weizhou formation. The WZ12-10-1 well was drilled to a total depth of 1406m MD/1373m TVDSS, where the Basement granite has been intersected. The well discovered oil in the very top of the Jiaowei (T42) formation over an interval of 5.5m, with a high porosity net oil pay of 4.2m. A sidetrack (WZ12-10-1Sa) was then drilled with 340m eastern step out to a total depth of 1265m MD/1105m TVDSS to prove up the up dip T42 reservoir and confirmed oil in the very top of the Jiaowei (T42) formation with a thicker net oil pay of 5.5m. The well is located 4.7km northeast of the existing WZ12-8W Platform and approximately 2.7km west of the WZ12-8E discovery wells. Wireline evaluation logging program (NMR, MDT Pressuring and Sampling) has been run, which confirmed the oil pay in T42 reservoir. The well was plugged and abandoned on 27th September 2014. This discovery will be evaluated on how best to integrate it into the Beibu Project. Rig ‘HYSY 935’ will be moved to the WZ12-10-2 exploration location to drill the second and final well in this program. Mr Alan Linn, Chief Executive Officer stated "This oil discovery adds potentially valuable incremental oil to the Beibu project. The location of the oil discovery allows ROC and the joint venture to evaluate alternative development scenarios, particularly integration with the Beibu WZ12-8E oil discovery".

7 Oct 2014

CNOOC spuds second Beibu Gulf exploration well

Roc Oil (China) Company, a wholly owned subsidiary of Roc Oil Company Limited (ROC), advised today that drilling has commenced on the second of two exploration wells in Beibu Gulf Block 22/12. The second well, WZ12-10-2, is targeting the T42 and Weizhou formations, adjacent to the WZ12-8 West field in the WZ12-8 Development Area. Drilling from jackup rig ‘HYSY 935’ commenced at 23:00 China Standard Time on 3rd October 2014. Total depth planned for this vertical well is 1,600 metres MD/1416 metres TVD. The well is located 1.6 kilometres East Northeast from ROC’s existing Beibu 12-8W facilities and is in water depth of approximately 36 metres.

13 Oct 2014

Horizon Oil makes second discovery in Beibu Gulf

Horizon Oil advises that drilling of the second of a two exploration well program in the Beibu Gulf Block 22/12 has been completed. The WZ 12-10-2 well is located is located in 36 m of water 1.6 km east northeast of the existing WZ 12-8W platform and about 3.2 km west southwest of the recently drilled WZ 12-10-1 oil discovery (see map below). The well spudded at 2300 hrs China Standard Time on 3rd October 2014 with the COSL Rig ‘HYSY 935’. The current exploration well, WZ 12-10-2, discovered high porosity net oil pay of ~11 m true vertical depth in the Jiaowei T42 formation. The well was drilled to a total measured depth of 1,590 m (1,382 m TVDSS), where granite basement was intersected, as prognosed. Wireline evaluation logging programs, including pressure measurements, fluid sampling, formation imaging and sidewall coring, have been run and confirmed the oil pay in the Jiaowei T42 reservoir has favourable reservoir porosities of about 31% and oil gravity of approximately 29 deg API. The well has been plugged and abandoned and the rig will be released shortly. The 2014 Beibu exploration drilling program has been successfully completed with no safety or environmental incidents. Further work will now be undertaken to evaluate both the extent of the structure and reserves, and assess the most effective route for integrating these additional oil resources into the existing Beibu project.

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