The South Rub Al-Khali Company Limited (SRAK) is pleased to announce that it has received the approval of Kidan area appraisal plan from the Saudi Ministry of Petroleum and Mineral Resources on the 20th of September 2011. As a result of this approval, SRAK will be drilling up to three appraisal wells and conducting extensive studies aimed at further defining development concepts for the field. The venture has committed to completing the appraisal of Kidan area by end 2013.
SRAK successfully concluded its First Exploration Period and embarked on the Second Exploration Period as of July 26, 2010 in its Contract Area in the Rub Al Khali, Kingdom of Saudi Arabia. The Company also completed its commitment for the First Exploration Period in May 2010, which included the drilling of seven exploration wells, the acquisition of approximately 25,000km2 of 2D seismic data, and 750km2 of 3D seismic data.
For the Second Exploration Period’s commitment, SRAK completed the first exploration well , the acquisition of 1025km2 of the planned 1950km2 2D seismic data, in addition of 4,328km2 of 3D seismic data.
SRAK is a joint venture between Saudi Aramco and Shell with equal equity holding. The Company was established in 2003 to explore and produce non-associated gas in its Contract Area in the Rub Al Khali.
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