Shanghai: Drilling of a second and final exploration well at Horizon Oil’s Beibu Gulf Block 22/12 has been completed.
The well spudded at 2300 hrs (China Standard Time) on October 3 at the Beibu Gulf Block 22/12 field, which is located about 60km from the southern coast of China, northwest of Hainan Island.
Further work will now be undertaken to evaluate both the extent of the structure and reserves. Horizon will then assess the most effective route for integrating these additional oil resources into the existing Beibu project.
The well has been plugged and abandoned; the drilling rig will be released shortly.
Horizon Oil reports that there were no safety or environmental incidents during the exploration drilling programme. [13/10/14]