Data suggests Phoenix could be commercial

Offshore staff

MANCHESTER, UK – Enegi Oil has issued an update on UK central North Sea block 22/12b, which contains the Phoenix oil discovery.

In 2010, previous operator Apache drilled the 22/12a-12 appraisal well. 

In August 2014, details of this well and associated logs and reports were made available.

Well data confirms that the oil-bearing sands at Phoenix are contained within a simple and relatively low risk four-way dip-closed structure. Technical work by Enegi’s license partner Azinor Petroleum has characterized and isolated these oil-bearing sands from their surroundings.

Based on the new information, the subsurface model has been updated, revealing base case oil in place of more than 16 MMbbl. This supports Enegi’s view that Phoenix is suitable for development via the company’s marginal field technology initiative.

The 22/12a-12y side track penetrated the reservoir outside of the Phoenix structure. Although it did not encounter hydrocarbons, the additional data has strengthened confidence in the depth model and pre-existing knowledge of the reservoir.

Enegi now believes the project can move to the next phase with a limited necessity for further appraisal activity.

Once a complete version of the static model has been delivered the company plans comprehensive testing and simulation work. Initial analysis suggests Phoenix could be developed with a single horizontal producer.

10/09/2014

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