Sterling extends 3D seismic coverage offshore Romania

Offshore staff

CALGARY, Canada – Sterling Resources has completed a 3D seismic survey over a portion of the Luceafarul block in the Black Sea offshore Romania. This should lead to drilling of an exploration well on a prospect on the block toward the end of 2014.

The seismic vessel is now acquiring a 3D survey over the Ana/Doina trend in Midia, another Sterling-operated block.

Later this year the company plans to acquire more 3D seismic over the large Ioana prospect, where a well was drilled in 2012, and over the Eugenia discovery in the Pelican block. For operational reasons the current acquisition contract could not be extended for these two programs.

Sterling hopes to complete its Midia carve-out transaction, transferring part of the block to ExxonMobil and OMV Petrom, during the current quarter. An ordinance passed by the Romanian government in December has resolved the legal basis for subdividing the block, and all sides are working to complete the transaction.

During the second half of this year Sterling aims to sell down its equity interest in all of its offshore Romanian blocks.

Development of the Ana and Doina fields remains under evaluation, with first production now expected during 2019. This will allow optimization of the development to consider this year’s 3D data, and to incorporate future exploration or appraisal successes in Midia and nearby blocks over the next two years.

In the Dutch North Sea, the company expects to participate in a 3D seismic survey later this year over oil discoveries and prospects in the Jurassic and Early Cretaceous in blocks F17a and F18. The data should improve reservoir understanding and assist in evaluating development options. Wintershall’s F17-10 30 MMbbl-plus oil discovery in late 2012 in the shallower Late Cretaceous horizon could form the basis for a regional oil development hub, with first production feasible in 2019.

At the Breagh gas field in the UK southern North Sea, which came back onstream on Dec. 27 following a shutdown production, has increased to 116 MMcf/d (3.3 MMcm/d). Routine pipeline pigging operations have resumed following a repair operation.

The partners plans to hydraulically stimulate the A07 well and drill the A08 well once the ENSCO 70 jackup returns following maintenance and certification work at a shipyard in Teesside, northeast England.

During the second half of this year an appraisal well is due to be drilled on the Crosgan gas discovery, 25 km (16 mi) northeast of Breagh on blocks 42/10 and 42/15.

01/14/2014

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