Premier extends target depth to 4500 metres

Vol 9, PW 6 (30 Jun 05) News in Brief
     

Premier Oil has decided to drill even deeper at its first exploration well on Assam exploration block AAP-ON-94/1.

Original target depth was 4200 metres but this has now been revised to 4500 metres. We learn the decision to increase target depth was taken because, the formation appears to be deeper than expected.

On 24th June, Premier set the 9 5/8-inch casing at 3300 metres depth. Premier drilled to the Upper Tipams and then set the 9 5/8-inch casing, says a source.

Theyll now drill a 8.5-inch hole to the Lower Tipams and then to the Barails. In the Upper Tipams Premier encountered minor oil shows.

The new target depth should be reached in early July. Logging and testing will take another week.

Premier is in Phase-II of a one-well exploration phase. Oil Indias S-7 rig is drilling the well for Premier, which is operator of this 652-sq km block with 38%.

Oil India holds 10%; Indian Oil holds 27% and HOEC has 25%.