Maha Energy AB awards Drilling Contract to Global Business Services in Oman for a six well drilling campaign

Maha Electrical power AB

Maha Electricity AB (publ) is pleased to announce the signing of a Letter of Award (“LOA”) with Global Organization Solutions (“GBS”) in Muscat, Oman for the drilling of a bare minimum of six wells, on Block 70, onshore Oman.

The LOA is binding and precedes a Drilling Contract which is envisioned to be finalized in the around future. The Drilling Rig, GBS-1 (previously OGI-4) is a 1,000 hp super one top drive rig, crafted in 2010 and is at the moment found in Muscat, Oman.

The rig will be organized for the campaign and envisioned mobilization is in June, 2022. The drilling plan will consist of two appraisal wells followed by 4 horizontal pilot generation wells on the Mafraq construction.

Jonas Lindvall, CEO at Maha reviews: “We are very excited about working with GBS on this venture. The GBS-1 rig is an ideal drilling rig for this undertaking due to the fact it can transfer incredibly immediately concerning very well sites. We are also pretty excited about breaking floor on the Mafraq field and appear ahead with anticipation to the preliminary results of the pilot very well tests.”

Instant designs for the Mafraq oilfield contain obtaining essential reservoir information and facts to help in producing a total Area Development Approach. Information that will be obtained in the very first two appraisal wells consists of, but is not limited to, the Oil Water Speak to (OWC), petrophysical homes, cores and identification of feasible h2o disposal zones. Right after the two appraisal wells are drilled and finished, 4 horizontal pilot production wells will be drilled. These 4 wells will be completed with point out-of-the-art PCP pumps from Canada and then put on an prolonged effectively check to further confirm oil productiveness.

About the Mafraq industry
Maha was prosperous in securing Block 70, which consists of the Mafraq significant oil discovery, in a 2019 – 2020 bid round. The Mafraq construction is a delineated hefty oil subject that was thoroughly tested by Petroleum Advancement Oman (PDO) in 1988 and 1991. The subject examined 15,700 barrels of 13° API oil more than a period of 24 days making use of a Progressive Cavity Pump (PCP) from a one nicely. The test perfectly, MF-5, tested 100% oil for considerably less than a working day soon after which h2o encroachment stabilized at a 25 – 28% watercut. It is unidentified why PDO did not develop the industry at the time, but it is probable that prevailing commodity selling prices (US$ 18 – US$ 20 for every bbl) and accessibility to other lessen value alternatives precluded Mafraq as a advancement solution at the time.

According to the independent reserve auditor, Chapman Petroleum Engineering Ltd. of Calgary, Canada, the Mafraq subject may maintain around 35 million barrels of recoverable oil (2C + 2P as at 31 December 2021). The OWC has not been penetrated yet which renders doable more upside to these volumes. The Mafraq composition is an East-West fault bounded anticline with the productive interval becoming at +/- 430 meters down below the floor amount. The oil flows freely in the reservoir at 51° C and is envisioned to cold flow to floor in commercial portions.

Miscellaneous
The info was submitted for publication, through the company of the speak to human being established out beneath, 15:00 CET on 14 April, 2022.

For more info, make sure you call:
Jonas Lindvall (CEO)
Tel: +1 403 454 7560
E-mail: [email protected]

Victoria Berg (Trader Relations)
Tel: +46 8 611 05 11
Email: [email protected]

About Maha
Maha Energy AB (publ) is a outlined, international upstream oil and fuel enterprise whose organization routines include exploration, advancement and production of crude oil and purely natural gas. The method is to concentrate on and create underperforming hydrocarbon belongings on global basis. Maha operates four oil fields: Tartaruga and Tie in Brazil, Powder River (LAK Ranch) and Illinois Basin in the United States. The shares are outlined on Nasdaq Stockholm (MAHA-A). The head business is in Stockholm, Sweden with a technical place of work in Calgary, Canada, as perfectly as functions offices in Grayville, Illinois, Usa and Rio De Janeiro, Brazil. For much more facts, be sure to go to our web page www.mahaenergy.ca

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