Premier Oil has confirmed its Isobel Deep oil discovery offshore the Falklands, as well as an additional discovery in the same well.
The well, which was a re-drill of the 14/20-1 Isobel Deep well, hit 27m of net pay, with no oil water contact or gas. The well, 30km south of the major Sea Lion project, reached 3014m total depth and confirmed the main oil discovery and additional oil bearing F3 reservoirs.
The original well, which found oil similar to Sea Lion about 4km west of the latest well, was suspended after encountering higher than expected reservoir pressure resulting in an influx into the well.
According to Falkland Oil and Gas, the latest well, drilled using the Eirik Raude semisubmersible drilling rig, successfully penetrated five separate fans within the complex and discovered oil in the Isobel Deep, Isobel, and Emily fan systems.
Samuel Moody, CEO of Rockhopper Exploration, commented: "Proving oil this far down dip in the Isobel Deep reservoir, in addition to confirming oil bearing sands at a location so close to the edge of the various other fan bodies, is an outstanding result and hugely increases the likelihood that the Isobel / Elaine complex can become a third phase of development in the North Falkland Basin.”
Robin Allan, Exploration Director for Premier, said: “The results of this well confirm the success of the Isobel Deep 14/20-1. We have encountered a substantial oil bearing interval, which confirms the potential of this part of the North Falkland basin as a standalone discovery. This successful re-drill of the Isobel Deep oil sand along with the additional discovery of new oil-bearing sandstones, is extremely encouraging for the prospectively of the area with a proven petroleum system and a number of prospects established.”
"A very large oil column (in excess of 480m) has now been proven between from the crest of the structure to the current location," said Falkland Oil and Gas. "The location selected for the re-drill of Isobel Deep was not optimal for any of the other fans. As such, most of the fans were penetrated at their margins and FOGL expects that based on analogous systems, better quality reservoir will be present in the main bodies of the fans."
According to an earlier statement by Falkland Oil and Gas, the Elaine/Isobel fan complex, based on the operator's estimates, has multiple reservoir targets and gross, mean un-risked resources of 400 million barrels of oil.
Rockhopper exploration holds 24% interest in the license containing Isobel Deep. This is due to increase to 64% following its merger with fellow Falklands Explorer Falkland Oil and Gas, due to 18 January.
Operations have now been suspended and the well will be plugged and abandoned as planned. The rig, which is being shared by Premier Oil and Noble Energy for their 2015-16 campaign in the Falklands, will then move to the Chatham well, to assess the west flank of Sea Lion, before moving to drill Noble’s Rhea prospect.
The current drilling campaign started in March 2015. Premier Oil has now drilled three wells in the North Falkland basin (Zebedee, Isobel Deep and Elaine. It is due to drill a third well in the North Falkland Basin.
Noble Energy and its partners plugged and abandoned the Humpback well in the Falkland Plateau Basin after encountering oil in non-commercial quantities. Noble is waiting for regulatory approval to still the Rhea-1 well.
Sea Lion is targeting sanction for the Sea Lion FPSO project in 2016, with 14 development wells, comprising eight producers, five water injectors, and one gas producer/injector.
Image: The Eirik Raude drilling rig.
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