Horizon-Roc Oil group makes oil find in Beibu Gulf off China

The Horizon Oil Ltd.-Roc Oil Co. Ltd. group working in the Beibu Gulf offshore China has made an oil discovery in the first of two planned exploration wells on Block 22/12.

The companies confirmed that their WZ12-10-1 well found an oil zone in the top of the Jiaowei formation over an interval of 5.5 m. Net oil pay was 4.2 m in a highly porous reservoir.

A sidetrack was then drilled with a 340 m eastern step-out that confirmed the oil zone at the very top of the Jiaowei with a net pay of 5.5 m thickness.

The well is 4.7 km northeast of the existing WZ12-8W production platform and about 2.7 km west of the WZ12-8E discovery wells.

The companies are now evaluating the result to decide how best to integrate the find into the Beibu project. The companies say it adds a potentially valuable incremental oil volume to the future of the WZ-12-8E development project currently being planned. It enables the joint venture to evaluate alternative development options.

Meanwhile, the rig will be moved to WZ12-10-2 to drill the second and final well in this exploration program.

Horizon has a 55% interest in the exploration program with Roc holding 40%. Japanese Majuko Corp. has the remaining 5%. China’s CNOOC has the right to join the production phase and take a 51% interest, which will reduce the other companies’ interests as follows: Horizon 26.95%, Roc 19.6%, and Majuko 2.45%.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...