The Mubarek Field is located 50 kilometers offshore, north-north west of Sharjah, in 200 feet of water. BGOI was granted the concession in 1969. There are two producing intervals, the Ilam/Mishrif light oil reservoir at 12,500 feet and the deeper Thamama gas condensate at 13,500 feet.

Prolific History. The Ilam/Mishrif reservoir in the Mubarek field has a long history of development dating back to the early 1970s. The first commercial oil was produced in mid-1974 in the Mubarek Field, marking the beginning of over three decades of continuous production. At the peak of production, the Mubarek Field was producing an estimated 60,000 barrels of oil per day. Individual well cumulative production ranged up to 22 million barrels. All wells have had reported recoveries in excess of one million barrels.

The total estimated cumulative recovery to date in the Mubarek Field exceeds 100 million barrels of oil. Sky Petroleum believes that this program will achieve its objective to exploit and maximize the potential of the substantial untapped oil reservoirs known to exist in the Ilam/Mishrif reservoir.

Technical and operational support. Sky Petroleum's primary focus is to seek opportunities where discoveries can be appraised rapidly, and developments can be advanced by accessing existing infrastructure, and benefiting from the extensive experience of established operators.

The alliance with BGOI unites Sky Petroleum's subsidiary Sastaro Limited with one of the United Arab Emirates most established and successful, integrated, low-cost operators with over 30 years of extensive experience in the region. As established operators in the Mubarek Field for over three decades, BGOI brings extensive knowledge of the geological formations and reservoir potential of the Mubarek Field.