Circle drops plan to explore offshore Oman

Offshore staff

WOKINGHAM, UKCircle Oil will relinquish block 52 offshore Oman. This follows the company’s failure to attract farm-in parts for a shallow-water exploration drilling campaign.

The company was unwilling to undertake this program on a sole-risk basis.

In Tunisia, Circle is awaiting the government’s approval to proceed to the next exploration phase on its offshore Mahdia block.

Here the EMD-1 encountered a 133-m (436-ft) column of light oil in the Cretaceous, Ketatna carbonates.However, the hole became unmanageable due to mud losses preventing logs from being run, leading to the well being suspended.

Circle plans to continue farm-out discussions for this easterly extension of the prolific Gulf of Gabes petroleum system.

6/1/2015

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