Anadarko Petroleum Corporation has struck oil at its deepwater Genghis Khan well in the Gulf of Mexico. Initial examinations suggest about 110 feet of high quality net oil pay in the lower Miocene formation and apparent additional reserves in the middle Miocene section.
The discovery, located in a water depth of 4,300 feet on Green Canyon Block 652, in which Anadarko holds a 100% working interest, was drilled to a total depth of about 26,000 feet in approximately half the time originally forecast.
The company estimates that first production is expected in 2006 through subsea tieback to the Marco Polo platform, located 2.4 miles from the discovery.
Our deepwater Gulf of Mexico program is set to be the largest single contributor to Anadarko’s growth strategy over the next four years, said Robert Daniels, senior vice president of exploration and production. Having the Marco Polo facility available to produce the Genghis Khan discovery greatly enhances the project’s returns, both by accelerating the development plan and leveraging off existing assets.
Anadarko plans to drill six more exploration wells in the Gulf of Mexico this year. The company owns an average 73% interest in 230 blocks in the Gulf.