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Friday, October 05, 2007

Imperial buoyed by new 3D data

01 October 2007 - Upstream OnLine - Imperial Energy said today it had received positive results from the 3D seismic shoot at its Kiev-Eganskoye field at Block 80 in Western Siberia, indicating a potential increase in the quantity of recoverable reserves. The 380 square kilometres of 3D seismic was carried out at by the independent seismic company, Bashneftgeophysica Data obtained showed significant differences from the older 2D seismic data shot prior to Imperial obtaining the licence for Block 80. In particular, it showed that the 11 wells drilled during Soviet times did not even penetrate the main part of the Kiev-Eganskoye structure. Furthermore, reinterpretation of the data from those eleven wells, combined with the new 3D seismic results, indicated the presence of three new reservoirs of Jurassic and Cretaceous age not previously identified in Imperial’s reserve estimations. Imperial said it will be sharing the results with the Ministry of Natural Resources and the new data will be taken into account in Imperial’s updated reserves assessment to be published in Spring 2008.

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