During the extended test, the Shpirag-2 well flowed at rates of 1,500 to 2,200 barrels per day of oil equivalent (boe); 800 to 1,300 barrels per day
TIRANA, Nov. 5 – Canadian-based Petromanas and its joint partner the Royal Dutch Shell have announced positive test results from its Shpirag-2 well in Block 2-3, which covers an area of 3,450 square kilometres onshore south-central Albania. Following acid stimulation, the Shpirag-2 well flowed naturally for 24 hours. During the extended test, the Shpirag-2 well flowed at rates of 1,500 to 2,200 barrels per day of oil equivalent (boe); 800 to 1,300 barrels per day (bpd) of 35 to 37 degree API oil and 2 to 5 million cubic feet per day (mmcfd) of gas through varying choke sizes, at wellhead pressures ranging from 1,700 to over 3,000psi. The gas oil ratio was in the range of 2,500 to 2,800 scf/bbl, Petromanas said in a statement.
“These are compelling results from a well that, due to difficulties encountered while drilling, is not the optimal wellbore into the reservoir,” said Mr. Glenn McNamara, CEO of Petromanas. “The results of the Shpirag-2 well are encouraging and support the potential of this oil play in Albania,” said Edwin Verdonk, Shell Vice President Exploration Europe. “We look forward to appraisal efforts next year to help us fully assess the volumes and production capability of this reservoir.”
Shpirag-2 was drilled to a total depth of 5,553 metres, and tested 400 metres of the target carbonate reservoir. Based on the previously drilled Shpirag-1 and the company’s current program at Shpirag-2, Petromanas and Shell believe they have identified in excess of 800m of oil column in fractured carbonate reservoirs at the Shpiragu structure.
Petromanas has a 25 percent working interest in Block 2-3 and is the operator. Shell holds the remaining 75 percent working interest.
Last summer, Canadian-based Petromanas says it has decided to relinquish its Block A-B production sharing contract after discovering negligible quantities of hydrocarbons in the Juban well in Shkodra, northern Albania.
The company says it has received notification that the Albanian government has approved construction permits for road and lease construction at the Molisht-1 drilling location and two other drilling locations located along the Shpirag structure in Blocks 2-3. Following the drilling of the Shpirag-2 well, the Company intends to mobilize the rig to the Molisht-1 location. Construction of the road and lease will commence in the next two weeks.
“Securing construction permits for three additional drilling locations on Blocks 2-3 will help minimize rig downtime and related costs as we move between drilling locations,” said Glenn McNamara, CEO of Petromanas. “In the near term our exploration program remains focused on multiple targets in Blocks 2-3.”
In early 2012, Canadian-based Petromanas and Netherlands-based Shell oil giant announced a joint venture under which Shell acquired a 50 percent participating interest in the Blocks in exchange for payments and carried costs up to US$50.3 million.
