Victoria Oil & Gas says that passive seismic survey conducted by GeoDynamics over an area around its Well 103 discovery at West Med has highlighted target locations for future appraisal and exploration drilling.

Well 103, the first discovery well at West Med, has been assigned Russian Standard C1+C2 reserves of over 14 million barrels of oil equivalent by the Russian Ministry of Natural Resources.

The IPDS survey, completed in only 15 days, was conducted in mid-December 2008 over an area of approximately 32 square kilometres in the region immediately surrounding Well 103. The interpreted results indicate that not only did Well 103 penetrate the flank of a structure, which extends considerably to the southeast of the well as suggested by the SibNats study, but also that there is a significant hydrocarbon prospect to the northeast of Well 103. Both of these potential accumulations lie within approximately a three kilometre radius of Well 103 and are potentially larger than the existing discovery.

Radwan Hadi, Chief Operating Officer of VOG said, “This passive seismic survey has revealed in detail a significant extension of the accumulation discovered by Well 103 and a separate hydrocarbon prospect within the area surveyed.

The West Med survey was the first time that this technology has been employed in an arctic environment and we are very pleased that data acquisition programme was successful”.

Tags: Victoria Oil & Gas Plc