Poland’s oil and gas company PGNiG is starting the second stage of exploration works in Ras Al Khaimah Emirate. The company is at the stage of making design and location arrangements for the first exploration well, which will provide an answer to the question about the production potential of the licence where PGNiG operates.
“The seismic surveys confirmed the probability of the presence of hydrocarbon deposits in the area of our licence,” said Paweł Majewski, President of the Management Board of PGNiG. “Detailed interpretation of the data will allow us to select a location which will give the best chance for a positive outcome of the drilling works. I am glad that thanks to our close cooperation with RAK GAS, which is our licence partner and the Ras Al Khaimah Petroleum Authority (RAKPA), which is the petroleum administration of the Emirate of Ras Al Khaimah, we can prepare a drilling plan and commence the second stage of exploration works on our licence.”
“We are very pleased to have had PGNiG exploring for oil and gas in Ras Al Khaimah for over 2 years and very much value the strong relationship we have built with PGNiG over this time. Having successfully acquired high quality 3D seismic, the oil and gas potential is now very clear, and we are delighted that PGNiG will be following up with a plan to drill an exploration well,” added Nishant Dighe, Chief Executive of RAKPA and CEO of RAK GAS, after the meeting with PGNiG representatives.
PGNiG’s concession in Ras Al Khaimah has an area of 619 square kilometres and its scope includes exploration, appraisal and production of hydrocarbons. Work is being carried out over three 2-year exploration periods, with the possibility of an extension to the final exploration period if an appraisal is still ongoing. This is followed by a 30-year production period. After each exploration period, the licence interest may be relinquished.