IPR Company dig Sboukhaoi – 1well in Block 24 / to explore hydrocarbons potential in Arremah , Jawdia and Arutbah formations of Cretaceous age

IPR began drilling Sboukhaoi – 1 in Block 24 well on 21/10/2010 / / Arrasheed contract in order to reach a final depth of 2265 to explore the potential of hydrocarbons in in Arremah , Jawdia and Arutbah formations of Cretaceous age.

In case of failure to obtain positive results from these formations will be to deepen the well until 4700 meter to penetrate and evaluate the hydrocarbon potential of the Triassic strata and Top Albalyozoik (formations of Alchorahina dolomite and Alomanus sand and Marqadda).

Note that IPR is currently in phase II extension of the initial exploration period with effect from 09.28.2010 and for two years.

The US-Egyptian Company IPR announced in May of the year 2009 it has achieved an oil discovery in the ” Arrasheed well 1″ in al-Qasra area that explore the operations several years ago and the province of Deir al-Zour.

The Company has achieved in March 2010 on the commercial production of oil the outcome of drilling and exploration work in Block 24 Arrasheed) from Jawdia formation in the installation of good fact to the north of the city of Deir al-Zour by about 17 km and formations Shiloh – Debbane – Juraibah in the installation of Abu Khachab , to the north-east of Deir al-Zour by about 60 km.

According to sources, the General Petroleum Corporation said that the reserve is discovered in a field of good-grade proven and of hopes estimated at 14 million barrels of recoverable from about 5 million barrels and estimated proved reserves in the field of Abu Khachab confirmed and hopeful about 148 million barrels of recoverable from about 37 million barrels .

The IPR Company participated in the international tender for oil exploration and development and production in the eight new blocks, covering about 40 percent of the area of Syria announced by the Ministry of Petroleum and Mineral Resources and the GPC last March.