Hydrocarbon Finder E&P (HCF), a 100 per cent Omani independent energy firm, says it has unearthed potentially promising oil plays in a pair of wholly owned and operated licenses located in the Sultanate. The Muscat-headquartered operator, which commenced operations in the Sultanate in 2015, has reported significant headway in harnessing the hydrocarbon potential of Blocks 7 and 15, which it acquired over the past couple of years.
A report of its performance in 2017, issued during the Annual Media Briefing of the Ministry of Oil & Gas on Monday, lists a number of achievements and project delivery milestones garnered by the company during the past year.
Notable is the discovery of oil in the Hasirah formation in Block 7, a 2,331 sq km concession located in the far west of Wusta Governorate. The discovery opens up a new reservoir waiting to be developed, the company reported.
“After the initial discovery, HCF implemented a side-track programme to develop and produce these reserves. The Hasirah wells have provided good production rates and a significant increase in the Sahmah field resource potential. HCF is currently undertaking Field Development Plans for both the Ramlat field and Sahmah field (Hasirah formation),” it stated.
In another highlight of the past year, HCF said it has implemented a successful exploration programme targeting Block 15, a roughly 1400 sq km concession located in the northwest of the Sultanate.
Its first exploration well, Ataya-1, was successfully drilled and tested with oil flowing from the Natih formation in Block 15.
“This is a significant discovery providing a new play for Block 15,” the company said, adding that its 2018 drilling programme will target similar structures in the concession.
Block 7, however, has been the focus of significant attention during the past year. The company acquired three 3D seismic surveys over the Sahmah and Ramlat field.
The seismic survey acquired over Sahmah has identified satellite structures adjacent to the Sahmah field, which are currently being evaluated.
In addition, HCF has installed and commissioned an Early Production Facility (EPF) at the Sahmah production facility.
The new facility, which will lead to the dismantling of the old Sahmah plant, has been described as a cost-effective production solution for the company.
A key highpoint of its performance last year is its success in boosting output from Block 7 from 600 barrels of oil per day (BOPD) to 2,000 BOPD. Furthermore, HCF has also signed a production offtake agreement with Japanese corporation Itochu in 2018.
Further underscoring its aspirations for growth in the Sultanate, HCF acquitted a 25 per cent equity from MOL Oman BV (Oman Branch), the local subsidiary of Hungarian energy firm MOL, as part of a farm-in into Block 66 in the west of the Sultanate.
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