Circle Oil plc, the international oil and gas exploration and development company, is pleased to announce the successful completion of its 6,300 kilometre seismic survey over Block 52, in the Arabian Sea, off the southwestern coast of Oman. The acquisition of the 2-D seismic data was carried out by TGS-Nopec Geophysical Company who have already commenced processing of the data prior to its interpretation by Circle.
Block 52, which was awarded to Circle as a nine year exploration licence in 2005, covers an area of over 90,000 square kilometres and extends approximately 150 kilometres offshore. The survey was designed to focus on and further evaluate three different plays which have been identified by the Company’s assessment of historical data from the block.
Data processing is expected to be completed over the coming months. Preliminary onboard processing has already shown the data to be of good quality. Final processing, including modern routine pre-stack procedures, is expected to yield a good quality dataset. Initial interpretation of the data by Circle’s specialist team and its incorporation into the existing dataset is scheduled to start in early summer 2007, following which the next phase of the exploration programme will be confirmed.
Commenting on today’s announcement, David Hough, Chief Executive of Circle said;
“The successful completion of the Oman Block 52 seismic survey is a significant step forward for Circle. We are now working to finish the processing of the data so that our specialist interpretation team can advance the exploration of this offshore Block and its interesting though untested play concepts.”
