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Ireland's Circle starts Morocco drilling

Wednesday, August 27 11:01:19

Irish-based, North Africa focussed energy prospector, Circle Oil, today said it has started drilling its third well in Morocco.

The drilling campaign in the Sebou permit and first campaign in the Lalla Mimouna permit continue with the spud of the second well named CGD-12 to be drilled in the Sebou permit, it said.

The 12 locations initially chosen for the campaign are targeting accumulations similar to the existing producing geological intervals in the Sebou permit. This second well will test a dipping fault bounded sand lens at 1,021 metres MD in the Guebbas Formation within which many of the previous discoveries have been successfully drilled. Depending on progress rates the well is expected to take approximately 30 - 35 days to drill, Vircle said.

Both the Sebou and Lalla Mimouna permits are a partnership between Circle Oil Maroc Ltd (75pc) and ONHYM (Office National des Hydrocarbures et des Mines) (25pc).

The Petroleum Agreements include the right of conversion to a production licence in the event of commercial discoveries.

"Circle is very pleased to announce the start-up of our second well in the third drilling campaign in Morocco. We again thank our partner ONHYM for its continuing support and assistance as we continue our joint work programme," said Prof Chris Green, CEO.

For more visit: www.businessworld.ie