 |
New Life to Oldest Oil Province in Europe - Carpathian Breeths Oil Again
Author: Stig Kristoffersen  | Posted: 24-04-2008 | Comments: 0 | Views: 15 | Rating: (120)  (?) 
 Capital Oil is performing prospecting of oil in two licenses called Kubash-Lukva and Maydan, outside Ivano-Frankivsk in the western Ukraine.
On the 7th of December 2006 Capital Oil signed an exclusive Joint Activity Agreement (JAA) with the Ukrainian state and Oblast owned company Bohorodchanynaftogaz (BNG). This agreement outlines that Capital Oil will have the operative responsibility for BNG in the exploration of oil and gas in the two licence blocks that is owned by BNG. BNG.
The oil fields are shallow, and contains low sulfur oil of good quality, around 36° API. Together the proven resources are assumed to be around 19 MMBO in a pessimistic scenario and up to 57 MMBO in a most likely scenario. This estimate is outlined in a totally independent report given by the Moscow office on behalf of the scottish oil consultancy company TRACS International Ltd. The resource estimate has its basis in analysis of 15 wells drilled during the 1960s and 70s.
The licenses are prospective and has an acreage of 44,5 km2. The concession owner can produce up to 10 percent of the total resources proven. License owner is BNG, but all operations are handled by the organization established within the framework of the JAA with BNG, Svenska Capital Oil AB and LLC Capital Oil Ukraine. Swedish Capital Oil AB will keep86 percent from the net profit from the JAA., LLC Capital Oil Ukraine will have 1 percent, while BNG will maintain the remaining 13 percent.
The exploration licenses of Capital Oil are located in the north western part of Ukraine at the foothills of the Carpathians. The well hydricarbon prolific basin stretches from Poland to Ukrainian and then into Romania. This region was the first region to be set into production in Europe already at the second half of the 19th century.
The Ukrainian part of the basin was active up to 1960s when the focus shifted to the then newly discovered huge resources in Siberia.
The licenses of Capital Oil had a relatively low production from layers at a couple hundred meters up to the late 1950s. During 1960-70 a larger number of exploration wells were drilled in order to explore horizons at around 2000 meters depth or more.
The Carpathians were formed around 20-30 millions years ago during the Alpine development. The geology is characterized by trusted fold belts. Sediments of interest as reservoirs were developed during Cretaceous to Tertiary time. The sedimentary environment was deep marine sandstones and siltstones together with claystones.
The fold belt has introduced several opportunities for oil traps were oil and gas from deeper layers have been migrated up into and been trapped in porous layers capped by impermeable clays.
Capital Oil explores for oil below the old production levels were oil shows are seen in wells drilled during the 1960-70s.
The larger anticlines ( in range of several kilometers) of Kubash-Lukva and Maydan-licenses forms trap mechanisms which are drilled at the moment. The anticline of Kubash-Lukva is situated to the west and Maydan one in the east part of the area of exploration. The first exploration well of Capital Oil will test the layers in the Kubash-Lukva anticline as in Maydan these layers explored in Kubach-Lukva are eroded and deeper reservoir layers are explored here at a later stage.
In a press release of April 4th, Capital Oil reports that oil has been encountered in the second exploration well in the license.
As in the first exploration well there are indications of several oil layers and in the second well ranging from 215 to 366 meters depth.
In January 2008 Capital Oil started the second exploration well drilling in the license. Preliminary results from the well logs and cores proves several oil layers ranging from 215 meters to 366 meters depth.
Leif Larsson, general manager of Capital oil proclaims that these indications proves possibilities for production is good.
As in their first exploration well, the oil layers are relatively shallow. This is in line with Capital Oil assumptions and assumptions of low production cost as well.
The exploration well is planned to 1050 meters depth for test of the deeper layers as well.
The well test is assumed to finish during April month this year.
The drilling of the third well will start immediately after finishing the second well.
In a press release of April 21st, Capital Oil announces production of oil from its first well in the license.
A revitalization of Europe’s oldest oil province is ongoing now. The first test production of oil from the first exploration well in north western part of Ukraine has been performed.
The test production of the first exploration well in Kubash-Lukva prospect area has been initiated. The drilling was initiated in October 2007 and finished in January 2008 within indication of oil layers within it.
In the beginning of April Capital Oil proved oil in its second exploration well and in April the third exploration well was initiated. A total of four exploration wells are planned in the initial exploration campaign.
The General Manager Leif Larsson comments that so far they have gotten the results they expected, and that the findings are a result of thorough geological analysis of wells in area as well as seismic interpretation.
In the next phase Capital Oil will drill production wells, which are going to be shallow only down to oil layers and hence not so expensive and faster to drill.
The oil which is produced from the first exploration well comes from layers which are 150 to 350 meters depth and is of same high quality as certain North Sea oils. The company states it is too early to comment on the size of the field.
Rate this Article:
Current: 5 / 5 stars - 1 vote(s).
Article Source: http://www.articlesbase.com/business-articles/new-life-to-oldest-oil-province-in-europe-carpathian-breeths-oil-again-395479.html
About the Author:He has a background as civil engineer and geoscientist. He has worked mainly within the oil and gas industry from the mid 1980s. He has written some few fictional novels as well as author of some professional litterature within oil and gas sector, he is now an editor of some web sites, mainly within the travel business.
www.ec-ba.com
www.lulu.com/stig
|
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free! |
|
Related Articles
New Potential for the Oil and Gas Prospectivity in the Ukrainian Carpathians - New Discoveries Makes it Possible to Believe - Million Barrels of Oil !
By: Stig Kristoffersen | 25/04/2008 | Finance
The oil fields are shallow, and contains low sulfur oil of good quality, around 36° API. Together the proven resources are assumed to be around 19 MMBO in a pessimistic scenario and up to 57 MMBO in a most likely scenario.The exploration licenses of Capital Oil are located in the north western part of Ukraine at the foothills of the Carpathians. The well developed hydrocarbon prolific basin stretches from Poland to Ukrainian and then into Romania.
New International Players Set Dnieper-donetsk Oil and Gas Fields Alive Again - a Race for the Resources are Set!
By: Stig Kristoffersen | 25/04/2008 | Business
Cardinal Resources plc is an independent company investing in oil & gas exploration and production projects and companies. Core operations are in Ukraine, announces on 15 APRIL 2005 the commencement of trading and admission of its shares to AIM.
An independent reserve report by ECL Scott Pickford, attributes net recoverable reserves to Cardinal from its two Ukrainian fields of 110.6 Bscfe, or 18.4 MMBOE; with a net present value of $40.3 million (using a 12% discount factor).
Ukraine Onshore and Offshore Oil and Gas Potential - Larger Than We Thought Only Some Years Ago. New Area of International Exploraiton?
By: Stig Kristoffersen | 02/02/2008 | Business
There are three Petroliferous provinces in Ukraine. In the west, there is the Carpathian hydrocarbon region, in the east we have the Dnipro-Donetsk region, or Donbas hydrocarbon province, and in the south there is the Black Sea and the Crimea hydrocarbon province.
Recent 2D seismic shot in the Black sea, reveals several potential larger structures ranging from the simple structural to more complex stratigraphic traps that have a large potential for hydrocarbons.
Ukraine Reveals Hydrocarbon Potential Both Onshore and Offshore That Attracts National as Well as International Players
By: Stig Kristoffersen | 02/02/2008 | International Business
Ukraine contains proven oil reserves of 395 mm barrels, most of them located in the Dnieper-Donets basin, the major oil and gas producing region located in the eastern part of the country. The oldest producing region is the Precarpathian Basin, located in western Ukraine. Over the last 20 years, the country's oil production has declined by more than 60 %.
Recent investigations and studies reveals large potential in the offshore Ukraine province, in the Black Sea.
Ukrainian Oil and Gas Potential to Increase Ukrainian National Oil and Gas Production the Decades to Come
By: Stig Kristoffersen | 23/04/2008 | Business
Ukraininan Offshore – The Back Sea a new world class frontier with a waste amount of exploration opportunities
The Ukrainian part of the Black Sea has had production for centuries; however it has been confined to shallow water on the shelfal areas of the Black Sea. Mainly the Odessa and Kerch areas of the Ukrainian Black Sea have been exploited so far.
However, the prospectivity of the Ukrainian sector of Black Sea has been known for a long time, it is only now after around 17000 km of 2D.
Russia Tells Ukraine Stop Black Sea Oil Drilling
By: Stig Kristoffersen | 15/06/2008 | International Business
Russia's foreign ministry demanded last week Ukraine to halt the oil exploration in parts of the Black Sea because of a territorial dispute, Russian news agencies reported.
U.s. Company Banished From Ukrainian Oil and Gas Field
By: Stig Kristoffersen | 15/06/2008 | Politics
The Ukrainian government has revoked the license to develop Black Sea oil and gas fields which was issued to Vanco Prykerchenska, a subsidiary of the US company Vanco Energy. Prime Minister Yulia Tymoshenko said that the agreements which were concluded with Vanco in 2007 were not transparent, and she accused President Viktor Yushchenko of lobbying for Vanco’s interests. Yushchenko flatly denied the accusation and called on Tymoshenko to review her decision on Vanco. Meanwhile, Vanco has threaten
In Excess of Billion Barrels of Oil Equivalents to be Discovered in Odessa Shelf Areas - New Playmodels Opens for a New Upside for Ukraine Oil and Gas
By: Stig Kristoffersen | 26/04/2008 | Business
The main promising prospects in the basin are Malossa-like Mesozoic carbonate reservoirs of the Andrussov and Shatshky Ridges and Mio-Pliocene prograded delta fans and turbidites of continental slope and toe. Water depths in Black Sea which are up to 2200 meters are no longer a technical problem. An important new play in the western Karkinit Trough has been revealed and could provide shallow water opportunities.
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
Hho installers near me
By: raj | 14-07-2008
I am looking for a qualified installer for the hho gas unit which converts water to hydrogen gas my zip code is 33160
Carbon and natural gas detectors is there a difference
By: misty | 14-07-2008
What is the difference between a carbon monoxide and a natural gas detector?
Should I lock in on a fixed oil price
By: Rich | 14-07-2008
should I lock in on a fixed oil price of $4.80 a gallon no cap is offered
Can diesel oil (25-40w) be used for gas marine engines?
By: JIMR | 14-07-2008
Can 25-40W (Shell RotellaT, Diesel oil) be used in Mercury Horizon Boats Motors since they spec Mercury 25-40W oil for their gas engines? I understand that diesel oil has stricter tolerances than oil for gas engines.
Who's drilling for oil in McCleansboro, IL?
By: Carmen | 13-07-2008
On a recent trip to Dalhgren, IL. to visit a family cemetery I met a local who told me a story about a company drilling for oil in McCleansboro, IL. (I've probably murdered the spelling) My family is one of numerous families who own mineral rights in that region and we have yet to be contacted. Any information you can share would be appreciated.
Can i use almond oil for my hair?will it reduce ...
By: pnks | 12-07-2008
can i use almond oil for my hair?will it reduce hair fall?
Q&A Powered by: 
Latest Business Articles
15 Ways to Improve Your Closing Ratios and Sales Presentations
By: Katrina Sawa | 26/07/2008
It is not enough to do launching effective marketing campaigns to obtain new customers and to continually market to your existing database for more referrals and repeat business. In addition, you must be able to ask for and close the sale. Otherwise, it is a waste of time and money!
In Searching for Cost Reducitons, Look at Total Cash Flow Costs Rather Than Accounting Costs
By: Donald Mitchell | 26/07/2008
If you are a privately held company, look to reduce overall cash costs when considering alternative cost reductions, rather than the impact of reported earnings.
The More Trust, the More Time to Succeed
By: Andrew Cox | 26/07/2008
Bill Oncken, in his book Managing Management Time, says that the more trust you have with your "universe " of people, the more time you have to do the things that lead to success. Trust is hard to earn. Once lost it's hard to regain. It's the most precious asset in any relationship - at any level - at any time. Read on to see how a successful Division President builds trust.
10 Tips on the Issues With Selling Professionals
By: Drew Stevens | 26/07/2008
The world of professional selling is rich with information related to selling skills, sales training and techniques to assist professionals. However, after much rhetoric and information I am finding something completely different...a problem with selling professionals.
India - the Next Economic Powerhouse
By: Paul Hata | 25/07/2008
India is one of the fastest-growing countries in Asia. In 2006, India recorded a 1.2% of world trade share overall. The stat was picked out from WTO. The growth is mainly due to the liberalization that took place in India way back in 1991. Ever since then, there's no looking back.
Customer Service Toolkit
By: Drew Stevens | 25/07/2008
All businesses make money, yet those that are customer focused are more profitable.
Top 10 Brain Training Future Trends: New Mind/body Focus, Brain Trainers, and More
By: Alvaro Fernandez | 25/07/2008
In an emerging, dynamic, high growth market, like brain training, it is difficult to make precise projections. But, we can observe a number of trends that executives, consumers, public policy makers, and the media should watch closely in the coming years, as brain fitness and training becomes mainstream, new brain trainers appear, and an ecosystem grows around it. Here you have the Top Ten trends I predict.
Commercial Loans and Working Capital Financing Special Reports
By: Steve Bush | 25/07/2008
A prudent approach to working capital management is becoming more difficult for most commercial borrowers. Commercial loans have always been more complicated than realized by most business owners. Recent financing difficulties involving commercial mortgages, SBA loans and business cash advances have added significantly to the complexity of the entire commercial...
More from Stig Kristoffersen
Vanco Exploration and Production Rights - Still Under Discussions - Case is Now in the International Court of Arbitration in Stockholm
By: Stig Kristoffersen | 11/07/2008 | Politics
US' Vanco delays filing lawsuit in Ukraine over canceled PSA.
The case is now in the International Court of Arbitration in Stockholm, and Vanco is preparing a lawsuit against the Ukrainian government to retain their right for exploration in the offshore Black Sea. The production sharing Agreement made is deemed not valid by the Ukrainian authorities after some irregularities were discovered regarding its award as well as some questions were risen towards the joint venture group lead by Vanco.
How to Stay Positive in a Any Work Environment - Some Simple Tips on Your Way to be in a Positive Environment and Contribute to Create One...
By: Stig Kristoffersen | 11/07/2008 | Coaching
There are several factors you need to look into when it comes to how to stay positive in any working environment.
In order to work on your positive attitude in your work environment, you need to look into
1. the work environment, then you have to look into
2. self change perspective of things and finally
3. how you can influence your environment.
6 Steps to Make Your Presentation or Speech the Most Memorable Ever Made.... Learn From the Experts - for Free!
By: Stig Kristoffersen | 11/07/2008 | Presentation
Based on 6 simple steps you can make you audience pay attention to your message. You will be able to convey the message and at the same time make them memorable for a long time.
Your speech is great when strong ideas are conveyed. If the words are soaring, beautiful, eloquent, but it is still not a great speech if the ideas are flat, empty, or mean-spirited.
The Psp Now Has a Gps-navigation System - for the Ultimate Traveller
By: Stig Kristoffersen | 10/07/2008 | Gadgets and Gizmos
Explore the PSP with GSP (PlayStation®Portable with Global Positioning System) and bring the Playstation experience wRegardless of where you go with your PSP, you can enjoy games, music, pictures, video and internet when you are on the move. Now you also can let the PSP tell you were you are and were to go.ith you.
Communicate as Well as John F Kennedy - You Can Do It, Here are the Tips on How to Do It.
By: Stig Kristoffersen | 07/07/2008 | Presentation
Communication is a powerful tool if you know how to do so. Either you work in sales or only need tips in your daily business, you will find some basic 6 steps that can improve your communication skille dramatically. Here we will tell you how John F. Kennedy was advised to do his speaches, and how other people after him adopted some of the same ideas and became successful in what they are doing.
Top 55 Cities in Ukraine
By: Stig Kristoffersen | 29/06/2008 | Destinations
Ukrainians tend to change their residence in search of better life. People from regions come in Kyiv for higher wages, while residents of Kyiv, on the contrary, rent out their flats and move to the provinces to have quiet life. So what are the most desirable cities for Ukrainians?
It the second time Focus in Ukraine makes the analysis of life conditions in 55 biggest Ukrainian cities using more than 10 characteristics.
The 5 Best Recreational Resorts in Crimea - Ukraine
By: Stig Kristoffersen | 29/06/2008 | Travel Tips
16 tour agencies and operators to name the best Crimean resorts, evaluated by price, quality, location and recreation offerings.
Iphone – the Next Wonder of the World or Just a Flop?
By: Stig Kristoffersen | 29/06/2008 | Cell Phones
I have spent some time writing about the iPhone, first about the firmware 1.0 and then some articles about the firmware 2.0 with GPS and 3G.
I have compiled all articles in one article for easier reference for you as a reader. This summary article will make it easier for you to find information about the iPhone, and be a better judge for yourself, whether iPhone is the next wonder or just a flop.
The articles are summarized according to my submission date for this specific article.
|
|
Business 
