Circle Oil (LON:COP) is beginning its hunt for drill targets on its Moroccan permits, it has emerged.
By Giles Gwinnett
Rabat – The firm announced today that it has begun the process of surveying and collecting seismic at the permits in the Rharb basin.
The campaign is scheduled to acquire a further 120 square kilometers of 3D data and 24 line-km of 2D data and is expected to last four to five months.
The oil company also announced it has appointed a new operations manager.
In an update the firm said: “The data will be subsequently processed and interpreted for use in the identification and prioritisation of drilling targets for the third drilling campaign presently scheduled to commence in early 2012.”
It also added: “Circle is also pleased to announce the appointment of Dr Mohamed El Mostaine as operations manager for Circle Oil Maroc.
Dr. El Mostaine holds a doctorate in geology and petroleum geology engineering from the French Institute of Petroleum.
He joined the National Office of Hydrocarbons and Mines (ONHYM) in 1981. From 2006 until taking up his position with Circle Oil, he was director of exploration petroleum for ONHYM.
Circle said that Dr. El Mostaine will initially manage the new seismic acquisition campaign and contribute to both the planning and technical studies in preparation for the third drilling campaign in the Rharb Basin.
Together with other senior company staff and country managers in Morocco, Tunisia and Oman, he will also contribute to identifying, evaluating and securing new business opportunities in Circle’s geographic area of interest.
This week, the company announced that Circle’s Geyad-3 appraisal/development well in Egypt on the NW Gemsa concession will be completed for production.
The well encountered shagar sands from 5,333 to 5,347 feet with 14 ft of net oil pay, the firm said.
The concession hosts the Al Amir and Geyad development leases – over more than 260 square kilometres – southeast of Cairo in a partially unexplored area of the Gulf of Suez basin.