Hydrocarbon Finder E&P LLC (HCF) is offering 39% of its 90% share in the onshore 1,390 sq km Block 15 (Jebel Aswad) licence, Odin Energi A/S holds the remaining 10%. The block is located in the Fahud Salt Sub-basin of the Oman Basin, to the east of Occidentalâs (Oxy) Block 09 (Suneinah) and to the north of Oxyâs Block 27 (Wadi Aswad), both neighbouring blocks contain fields which produce from the Cretaceous Natih and Shuâaiba formations. In addition to the main Cretaceous reservoirs, there is thought to be potential in the Jurassic Mafraq Formation. Block 15 (Jebel Aswad) has excellent nearby infrastructure, exploration and production sharing agreement terms are favourable, and extensive 2D and 3D seismic data is available.   Between October 2017 and January 2018, HCF was exploratory drilling in Block 15 (Jebel Aswad). The well Ataya 1 (previously reported here as HCF 2017 1) is located in the southern part of the block, near to the border of Block 27 (Wadi Aswad) and roughly 6.5 km northeast of Oxyâs Nasiyah Far East 1 discovery well. According to HCF, the Ataya 1 discovery has over 4 MMbbl of contingent reserves with considerable upside potential and is currently undergoing production testing.   HCF is also planning to undertake a subsurface evaluation of the existing Jebel Aswad field area in Block 15 (Jebel Aswad). It will evaluate new leads and prospects, as well as looking at deeper reservoir potential in existing structures. Jebel Aswad 1, discovered in 1995 by Arakis Energy Corp, is a small/medium Cretaceous gas/condensate/oil discovery that has often been described in the past as a volatile oil field. Furthermore, in late-2016, HCF reported that it will commence a study to assess unconventional potential in the block.  In northwest Block 15 (Jebel Aswad), on the Block 09 (Suneinah) border and approximately 10 km northwest of Jebel Aswad 1, the well Wadi Saylah 1 drilled in 1997 also by Arakis Energy Corp, was plugged and abandoned after encountering oil shows in the Cretaceous Natih and Shuâaiba formations.   Block 15 (Jebel Aswad) contains additional identified prospect areas: Ataya East and Thimar, with the same Cretaceous play types.Â  Deeper potential is reported to exist in the Mafraq Formation (tilted fault blocks) and HCF also report unconventional potential in the Natih B source rock. In the west of Block 15 (Jebel Aswad), stratigraphic pinch-outs are thought to exist, as encountered by Petroleum Development Oman LLC in Block 06.  HCF (operator) owns a 90% share in the Block 15 (Jebel Aswad) licence, Odin Energi A/S holds the remaining 10%. In early-2016, a Royal Decree was issued endorsing Tethys Oil Ltd to concede 100% of its share of the Block 15 (Jebel Aswad) licence to ODIN Energi A/S (article 1), as well as endorsing Odin Energi A/S to concede 90% of its share quota, to HCF (article 2). The current exploration phase expires on 22 October 2018 however, HCF is entitled to apply for a two-year extension.   Companies interested in pursuing this opportunity should contact:  Ian Cross - Managing Director, Moyes & Co.  Tel: +65 9776 0753  Email: ICross@MoyesCo.com
Hydrocarbon Finder E&P LLC (HCF) is offering 39% of its 90% share in the onshore 1,390 sq km Block 15 (Jebel Aswad) licence, Odin Energi A/S holds the remaining 10%.