Transeuro Energy Corp announced the commencement of drilling operations in Armenia for natural gas exploration, Trading Markets reported.
Drilling has started on the Karmir prospect in the Armavir region of Block 2, Armenia. Karmir-1 is the first exploration well to be drilled in the country for ten years.
The well is targeting two horizons in the Karmir gas prospect, the Lower Sand Clay (LSC) and the Lower Multicoloured Suite (LMS), and is planned to have a total depth of 2200 meters. Drilling operations will be followed by flow-testing should hydrocarbons be discovered.
The well is located less than 3km from a new gas pipeline route forming part of a recently installed domestic gas distribution system, and the Company is in discussion with the Government of Armenia regarding early hook-up of the well in the event of a commercial discovery.
Harold Hemmerich, President and CEO, Transeuro Energy Corp. commented, “I am very pleased that Karmir-1 has spudded. The Company has entered an exciting operational phase and is now simultaneously drilling in Canada, Armenia and Ukraine, and is planning a drilling operation in PNG. The drilling results are keenly anticipated and will generate important information for the Company.”
“For the first time in Armenia’s history we are launching exploration with all necessary equipment. After a thorough examination of the facts we concluded that the possibility of finding gas is rated 50 per cent against 50 per cent of water. Huge amount of work should be carried out to explore gas and oil in Armenia. Nevertheless, we are hopeful that our efforts will be a success. Late October-early November we will say whether Armenia has gas or it doesn’t,” said head of the Transeuro Energy Armenian branch Mike Smith.
Transeuro Energy Corp. is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. The Company’s properties are located in Canada, Armenia, Papua New Guinea and Ukraine.
