Seismic attenuation was estimated from compressional (P) and shear (S) waves carefully extracted from three-component vertical seismic profiling (VSP) data. A high sensitivity of attenuation to fluid content was noticed, which shows the advantage of its use as a seismic attribute for reservoir studies. Contrary to most observations in fully saturated sandstones, the magnitude of P to S wave attenuation in the studied carbonate reservoir zones is higher than one. This disagreement is most probably because the fluid flow models developed to describe the attenuation mechanisms in sandstones are not valid for carbonate rocks due their complex texture. Moreover, the magnitude of seismic attenuation in the reservoir zones is controlled by the saturation of pore fluids and clay content. Furthermore, the attenuation magnitudes obtained at sonic and VSP frequencies are of the same order, and compressional and shear attenuations show similar variation at both frequencies. This indicates frequency-independent attenuations in the studied oilfield.