Cooper ups West Hammamet reserves

COOPER ENERGY HAS announced its Hammamet West field, offshore Tunisia, could hold more than 200mn barrels of oil.

The company said the base case contingent resource estimate for the Abiod formation had grown to 101mn barrels of oil following analysis of 3D seismic, log data and a detailed review of the Hammamet West-2 production well tests.

It added if the Abiod formation reservoir oil water contact extended below proved oil to the interpreted spill-point of the structure then the contingent resources could be as large as 213mn barrels of oil.

“Hammamet West has become Tunisia’s sleeping giant and we are looking forward to proving the productivity of the Abiod formation by drilling a horizontal well, which is today considered conventional technology,” Cooper managing director Michael Scott said.

“If the well test is successful, the Hammamet West oilfield asset would provide a serious uplift in our value.”

Cooper said it planned to drill the well during third quarter of the year, subject to rig availability and if at least one more joint venture partner could be attracted to participate in the permit. Cooper holds an 85 per cent stake in the Hammamet West field, along with fellow Australian company Jacka Resources holding the remaining 15 per cent interest.

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