suriname drilling, page-6

Latest update on Suriname:

Exploration Drillings Start in Coronie

In 2007 and 2008 data was gathered on the composition of the Coronie subsoil. Early 2010, Paradise Oil Company (POC), a Staatsolie subsidiary, started preparations for exploration of the area. Actual drilling will begin soon.

POC’s partner for exploration of the Coronie block is the British/Irish oil company Tullow Oil. However, POC maintains operational management. The objective is to increase Staatsolie’s reserves.

Everything is Set
The swamp rig and the other necessary equipment have already arrived in Coronie. All equipment was put through an endurance test in the first week of September. ‘We kept them running for 12 hours on end just to see if everything is working properly during a so-called integrity test,’ says Patrick Brunings, manager of POC. He aims at drilling the first of five wells by the end of September. Since the start of 2010, waterways, stretching more than 100 kilometers, have been opened up in the Coronie swamp. Brunings emphasizes that ‘the first two wells will disclose more of the geological structure. That data will determine whether the next wells will be drilled to the south or the north.’ Processing the data on the first wells will take approximately five months.

Expectations
For the first time exploration operations will take place deep in the area. So far, little is known about its potential, but expectations are favorable. The objective of this phase is to determine the geological framework. ‘If there is an immediate strike, it will be welcome, but expectations for the first wells do not run that high. The first five wells will, however, draw a picture of the geological structure. The data will determine which areas will be worth further exploration.’ The methods of exploration for the follow-up phase will then also be defined. The production sharing contract stipulates that POC and Tullow Oil drill at least ten wells in the followup phase or carry out a similar program.