INTRODUCTION
 ONGC
Videsh Ltd has entered into a Concession Agreement for petroleum
exploration and exploitation of petroleum in North Ramadan Area,
Gulf of Suez (GOS), with the Arab Republic of Egypt and the Egyptian
General Petroleum Corporation and IPR Energy Red Sea, Inc. The agreement
is effective from Auguest 8,2005.
The North Ramadan (NR) Block covers 300 Sq.Km. area located at the
central part of the Gulf of Suez (GOS) at a water depth ranging
from 5m to 60m in depth. The western edge of the area is about 1
to 3 Km.away from the Egyptian coastline. The North Ramadan Block
is surrounded by major producing fields namely Ras Gharib, Shoab
Gharib and Ras Fanar in the west, Belayim marine and Belayim land
in the North and July, Ramadan in the south and south east respectively.
Sixteen wells have already been drilled in the NR block by different
operators. The Well E. Gharib – 2 produced oil @ 2060 BOPD
of 33.2 degree API from Asl sand of Miocene age, Well SB 284-1 produced
oil @ 684 BOPD from Matulla sandstone of Lr Cretaceous age.Wells
Gharib ME-1, Baker M.E.-1, KK-85-1, II 84-1A showed indication of
oil and gas in different stratigraphic horizons.
The concession Agreement is for a period of 20 years from the effective
date. It comprises of initial exploration phase of three years with
two exploration extension periods for two years each. The minimum
work programme committed during the initial exploration phase is
API of 50 Sq Km of 3D seismic survey or the equivalent in 2D plus,
processing and reprocessing of existing data and drilling of three
wells. Each exploration extension period is committed with drilling
of one well.
Earlier studies has identified three prospects and six leads over
the whole North Ramadan Block area.
Drilling of first exploratory well NR-1 started in December 2006
and will be completed in March 2007. Acquisition of 3D seismic data
and drilling of two more exploratory wells is planned in year 2007.
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