Horizon Oil advises that drilling of the second of a two exploration well program in the Beibu Gulf Block 22/12 has been completed. The WZ 12-10-2 well is located is located in 36 m of water 1.6 km east northeast of the existing WZ 12-8W platform and about 3.2 km west southwest of the recently drilled WZ 12-10-1 oil discovery. The well spudded at 2300 hrs China Standard Time on 3 October 2014 with the COSL Rig HYSY 935.
The current exploration well, WZ 12-10-2, discovered high porosity net oil pay of ~11 m true vertical depth in the Jiaowei T42 formation. The well was drilled to a total measured depth of 1,590 m (1,382 m TVDSS), where granite basement was intersected, as prognosed.
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