Gulfstream announces well drilling

Gulfstream Resources Canada Limited announced today the drilling of two new production wells in Qatar's offshore Al Rayyan oil field.

The two new wells, which work in an area of reserves that were discovered in 1997, are slated to produce a combined 6,500 barrels per day.

The company said that the Qatar Consortium, which consists of Gulfstream Resources (27.5%), ARCO (Operator, 27.5%), BG plc (25%), Wintershall (15%) and Preussag Energie (5%), has "drilled eight extended reach production wells from the Amina location plus four vertical field delineation wells in the Al Rayyan area since 1994." It added that the second half of 2000 will witness an expansion project for the Al Rayyan area, aimed at increasing production to 60,000 bpd.