News

Indago rises as drilling starts on Zad well

22 May 2008 09:21:00

Oman-focused oil and gas exploration company Indago Petroleum has started drilling on its Zad well on the Adam prospect in Block 47.

Drilling began on 20 May and is expected to take around 100 days to complete.

The Adam prospect is estimated by Indago to have gross mean prospective resources of about a half trillion cubic feet of gas and substantial associated condensate.

The company said it expected operations on the Zad well should be more straight-forward than its troublesome Al Jariya well, which had to be abandoned after the operation was eventually deemed to be neither safe nor technically feasible.

“Whilst Adam is considerably smaller than the Jebel Hafit prospect, a discovery would be highly significant for Indago,” said the company’s chief executive officer, David Bremner. “It could also help achieve a critical mass for the development of other existing and future discoveries in the immediate area,” Bremner added.

Indago’s stake in Oman Block 47 is around 50%, with the operator, RAK, holding a balance.

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