BATI RAMAN PILOT PROJECT

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The Bati Ramon Oil Development Project includes: (i) the Bati Raman enhanced oil recovery field test - a field demonstration test of the carbon dioxide injection enhanced oil recovery (EOR) technology, on a limited area of the Bati Raman reservoir for evaluating its suitability and determining the data required for designing a full field project. It consists of drilling five additional wells at the Dodan gas field, laying of a pipeline, drilling of five additional wells and the preparation of 30 wells to handle CO2 injection and oil production, and the testing and evaluation of the results; (ii) the Raman oil field development - a production component covering the drilling and completion of 18 new production wells, along with provision of associated surface and sub-surface equipment in a newly discovered extension of the Raman oil field, and a reservoir analysis study to determine the optimum approach to an enhanced oil recovery program for the field; (iii) the Thrace (Hamitabat) gas field - an evaluation of the production potential of the Thrace gas field to provide reliable estimates of gas reserves and productivity through the stimulation of the gas field by fracturing six to ten wells, and a study to determine the optimum use of the gas.