Ophir Energy has confirmed a sixth gas discovery in block R offshore Equatorial Guinea

Ophir Energy has confirmed a sixth gas discovery in block R offshore Equatorial Guinea

 Liquefied Natural Gas / LNG (natural gas)

Offshore staff

LONDON – Ophir Energy (LN:OPHR) has confirmed a sixth gas discovery in block R offshore Equatorial Guinea.

The Fortuna West-1 (R6) well, drilled by the semisubmersible Eirik Raude in 1,758 m (5,767 ft) of water, encountered a 72-m (236-ft) gas-bearing column with 60 m (197 ft) of net pay in the targeted Late Miocene sands of the western lobe of the Fortuna complex. Ophir estimates recoverable resources at 397 bcf, 33% above pre-drill estimates.

Gas quality appears consistent with that observed in discoveries on the block. Pressure measurements indicate communication between Fortuna-1, Fortuna East-1, and Fortuna West-1.

Delineation of the underlying mid-Miocene Viscata prospect, previously encountered in both Fortuna-1 and Fortuna East-1, also succeeded. The latest well was positioned to test the lateral extent of the accumulation and encountered an interpreted 37-m (121-ft) gas column with 11 m (36 ft) of net pay and good quality reservoir, with average porosity of 30%.

Ophir estimates mean recoverable resources from Viscata at 618 bcf. Further gas-bearing sands were also encountered deeper down. The well also penetrated the lateral, stratigraphic equivalent interval of the Tranquilla exploration prospect first tested in Fortuna East-1, confirming good quality reservoir.

Block R contingent resources (2C) have now been revised upward to 3 tcf. Additionally, the stratigraphic tests of Tranquilla and Iambe have further de-risked the remaining inventory of more than 10 tcf.

Nick Cooper, CEO of Ophir, said: “The Fortuna wells combined with the Tonel discovery provide confidence to proceed with commercializing the gas via LNG export. A follow-up exploration and appraisal drilling program in 2013 will further advance this valuable gas asset toward development.”

9/17/2012

http://www.offshore-mag.com/articles/2012/09/ophir-aims-at-lng-development-following-deepwater.html

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Ophir Energy announced that the Tonel-1 (R-4) well in Block R, Equatorial Guinea, is a 800BCF (133mmboe) gas discovery.

Tonel is the first in the three well Ophir operated 2012 Block R drilling campaign in Equatorial Guinea using the “Eirik Raude” semi-submersible rig. The well spudded on July 7, 2012 in a water depth of 1,599m and was drilled to a total depth of 3,072m subsea.

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Ophir is identified in historical records as the place from where King Solomon’s fleet brought gold, silver, sandalwood, precious stones, ivory, apes and peacocks.

The exact location of the legendary land of Ophir has been a subject of vigorous debate amongst scholars, historians and explorers over the centuries. Most theories suggest a location somewhere in Africa, southern Arabia or the Indian sub-continent.

Ophir symbolizes a spirit of exploration and adventure.

Ophir Energy

Ophir Energy plc (Ophir) is the United Kingdom incorporated holding company of a group of companies (the Group) with oil and gas exploration assets in a number of African locations. The Group’s headquarters are located in London (England), with operational offices in Perth (Australia), Malabo (Equatorial Guinea) and Dar es Salaam/Mtwara (Tanzania).

Since its foundation in 2004, the Company has acquired an extensive portfolio of exploration interests consisting of 17 projects in nine jurisdictions in Africa. The majority of these interests lie offshore in water depths greater than 250m and are thus classified as “deepwater”. According to IHS Inc. (IHS), one of the leading providers of oil and gas licensing data and intelligence, the Company was, as at January 2010, one of the top five holders of deepwater exploration acreage in Africa in terms of net area and Management believes that it has established a strong competitive position in a region that is becoming increasingly significant to global oil and gas markets. According to the IHS Probe database (January 2010) Ophir had just under 60,000km2 of net deepwater acreage in Africa.

Source: Ophir Energy plc

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