Mercator expects 4000 b/d from Jyoti wells

Vol 19, PW 15 (07 Apr 16) News in Brief

Mercator Petroleum is confident it can produce up to 4000 b/d (or around $150,000/day at today's Brent price) from one of two small exploration blocks it holds in the Cambay basin, according to sources close to the Mumbai-based subsidiary of shipping company Mercator, earlier known as Mercator Lines.

Analysis of test results from wells Jyoti-1, Jyoti-2 and Jyoti-3 drilled at CB-ONN-2005/9 since the $30m campaign began two years ago on May 12, 2014 suggests each of the wells could potentially produce 1000 b/d. Similar production potential is expected after testing fourth well Jyoti-4, completed on February 3 where log results are similar to the earlier wells.

Mercator wants to resume drilling in June this year to complete its eight-well commitment using 1100-hp rig John-19 by the December 2016 Phase-I deadline. "If John's rig is not available," we hear, "then we'll tender for another rig." Mercator is now working on an Appraisal Programme of geological and geophysical studies submitted to the DGH in November 2015 and which now awaits formal approval.