Expects higher than estimated oil reserves in discovery area
Mercator Petroleum announced that an Independent Third Party Resource Certification for wells Jyoti 1 & 2 has given a 2P EUR (expected ultimate recovery with water injection) of 26.2 Million barrels of Oil in the discovery area. MPL had earlier submitted a field development plan, to the Directorate General of Hydrocarbons (DHG), for an estimated reserves of 23 million barrel of recoverable Oil.As per earlier announced schedule, MPL has also commenced drilling in the Seventh exploratory well on 6 December, 2017. The drilling is expected to be completed by March'18. During the ongoing campaign, testing of already drilled wells is also planned which may open additional areas for exploration.
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