Gulfsands Petroleum announces about hydrocarbon discovery on Syrian field
Azerbaijan, Baku, Feb.1 / Trend A.Badalova/
Gulfsands Petroleum company (UK) says the volume recoverable hydrocarbon on Khurbet East Field Butmah Formation in Syria are equal to the initial estimates.
According to the Gulfsands Petroleum report, published on the company's official website, the drilling, logging and well testing operations have been concluded at the Khurbet East 102 ("KHE-102") well. It is an appraisal well which has tested the structural elevation, reservoir quality and reservoir fluids present in the Triassic Butmah and Kurrachine Dolomite Formations
Originally spudded in October, 2011, KHE-102 has encountered gas and oil in the Butmah Formation and the results of the well are interpreted to be generally consistent with pre-drill expectations, the company said.
According to the report, the hydrocarbon columns and reservoir characteristics interpreted in the KHE 102 well are also seen as broadly confirming the company's initial estimates of total recoverable hydrocarbon volumes from the Butmah Formation of 19.2 million barrels oil equivalent.
According to BP, Syria's proved oil reserves amounted to 2.5 billion barrels in early 2011. In 2010 the country's oil production increased by 2.7 percent to 385,000 barrels per day.
Gulfsands Petroleum is the oil and gas production, exploration and development company with activities in Syria, Iraq, Tunisia, Italy and the U.S.A.