Lime reviewing offshore UAE drilling prospects

Offshore staff

KULA LUMPUR, Malaysia – Hibiscus Petroleum has updated the Middle East offshore activities of its subsidiary Lime Petroleum.

Offshore Sharjah, UAE, Lime followed analysis of raw stack seismic data acquired in 2012 with conventional studies last year of the 2D and 3D seismic datasets.

Studies continue to integrate petrophysical data related to three previously drilled wells in the concession with models developed from other recent evaluations.

This has identified several conventional prospective features. The company has determined two potential drilling locations and will look to select the best prospect for an exploration well to be drilled during the next 12 to 18 months, depending on rig availability and government approvals.

In preparation for drilling, Lime plans an Environmental Impact Assessment (EIA), geotechnical, and geophysical site surveys.

Elsewhere in the Emirates, Lime has interests in two concessions offshore Ras Al Khaimah.

Last year the company identified a preliminary prospect in RAK North Offshore based on conventional evaluation, sequence stratigraphy, and the application of Rex Virtual Drilling on 3D seismic.

However, it plans to review the results of previous analysis as there appear to be similarities between the sequence stratigraphy of the company’s recently drilled MNN # 1 well off Oman and the geology observed in the RAK North Offshore concession area.

The drilling schedule has been deferred pending study of all available data. Additionally, in view of the costs associated with the well. Lime may consider bringing in a farm-in partner.

6/6/2014

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