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Ophir to resume exploration off Equatorial Guinea

posted by www.equatorialguineaonline.com – January 25, 2012

LONDON – Ophir Energy has secured the Ocean Rig semisubmersible rig Eirik Raude for a 60-day exploration drilling program off Equatorial Guinea, starting in April.

This will involve three firm wells plus one contingent well in Ophir’s operated block R. The intention is to delineate sufficient additional gas reserves to facilitate a fasttrack gas development. To date Ophir has drilled two gas discoveries in the block.

The first well will be close to the Fortuna discovery and will test stacked objectives. Primarily it will target 541 bcf of prospective resources in the Fortuna fan but it will also test secondary exploration targets at other stratigraphic levels.

Second well in the sequence will be Tonel-1 (which Ophir believes could contain 650 bcf,), and the third well will be on the potential 437-bcf Silenus East structure.

A location for the final well location has still to be determined. Candidate include a well on the eastern lobe of the Fortuna fan that could additionally test the 354-bcf Viscata prospect as a secondary target, or a well on the western lobe to test the 470-bcf Felix prospect.

Ophir has reached a milestone on the commercial structure of second LNG train in Equatorial Guinea.

Additionally, Ophir and its partner in blocks O, I, and R (GEPetrol GE) have agreed further principles with the government concerning the commercial structure of a second LNG train in Equatorial Guinea.

Next-phase studies are getting under way to determine the development plan, plant size, and timing. One option under review could lead to a Final Investment Decision by the end of this year, with first LNG from block R targeted for 2018.

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