Reliance plans more 3D at NEC-OSN-97/2

Vol 9, PW 12 (22 Sep 05) News in Brief

Western Geco vessel Geco Emerald begins shooting 1700-sq km fresh 3D at Reliance-operated NEC-OSN-97/2 in November.

On 8th September, Geco Emerald began a 550-sq km 3D survey at Hardy-operated CY-OS/2 and will move to NEC-OSN-97/2 on completion. Western is expected to bid Geco Emerald in a separate Reliance tender for 11,500-sq km 3D on the east coast, which closed on 9th September (see above).

On 13th September, Niko Resources announced that Gaffney, Cline & Associates believes NEC-OSN-97/2 has a maximum upside of 8.2-tcf in place. Niko - which owns 10% of NEC-OSN-97/2 - said Gaffney evaluated 12 separate gas accumulations from six exploration wells and said its best estimate for the drilled discoveries is 2.3-tcf with a low estimate of 0.8-tcf and a high estimate of 5.5-tcf.

Its best estimate for the un-drilled prospects is 1.4-tcf with a low estimate of 1-tcf and a high estimate of 2.7-tcf.