Midia Pelican Exploration

The Midia Pelican Exploration Project (MPE) consists of all the exploration activities performed in our concession: seismic acquisition, geophysical and geological studies, and drilling.

In 2016, BSOG undertook a 1040 km2 3D seismic acquisition campaign to identify and drill the most attractive prospects of XV Midia Shallow block. Further to the processing and reprocessing of over 1600 km2 of seismic data in 2016 and 2017, two prospects were selected with drilling commencing in May 2018.

The first well on the drilling program, Iulia-1, located in 73m water depth and 115km offshore, was spudded on 8 May 2018 and was drilled up to 2110m (Pontian formation). The second well, Paula-1, located in 88m water depth and 147km offshore, was spudded on 17 June 2018 and was drilled up to 1036m (Dacian formation).

The Iulia-1 well did not encounter any (gas bearing) reservoir in the Upper Pontian, and the net pay and volume of dry gas discovered at Paula-1 did not prove commercially viable for testing. Paula-1’s results confirm the potential of the Dacian play which is already associated with Ana and Doina discoveries. Based on the latest results, BSOG is currently conducting additional assessments in order to evaluate the overall prospectivity of the Concession.

Total investment with exploration activities since BSOG inception until August 2018 was of US$32.5 million. The exploration efforts involved working with worldwide contractors, Romanian based GSP Offshore for exploration drilling and associated services, UK based Dolphin Geophysical LTD for 3D seismic acquisition and UK based CGG for processing and reprocessing the seismic data.

2018 drilling campaign in numbers

Lost Time Incidents: 0
Manpower: approx. 400 people, approx. 65% local workforce
Number of contractors: 69 drilling, services and support services companies out of which 43 Romanian based or registered in Romania
Duration: 62 days
Costs: US$26.2 million