Oil and Gas

Eni announces major oil discovery in block CI-101, offshore Ivory Coast

Eni has announced a major oil discovery in block CI-101 offshore Ivory Coast. The block is operated by Eni (90%) alongside partner Petroci Holding (10%). The discovery well, Baleine-1x, encountered light oil (40° API) in two different stratigraphic levels. An evaluation program will be carried out to assess the significant upside potential of the overall structure that extends into block CI-802, also operated by Eni with the same Joint-Venture and participating interests in the exploration phase.

The well was drilled about 60 kilometres off the coast, in about 1,200 meters of water depth with the Saipem 10,000 drillship and reached a total depth of 3,445 meters in 30 days.

The lower Cenomanian / Albian level shows discrete to good reservoir characteristics and has been successfully tested to production. Along with the appraisal programme, Eni and Petroci Holding will also start studies for a fast-track development of the Baleine discovery.

The potential of the discovery can be preliminarily estimated at between 1.5 and 2.0 billion barrels of oil in place and between 1.8 and 2.4 trillion cubic feet (TCF) of associated gas. Baleine-1x is the first exploration well drilled by Eni in the Ivory Coast. Besides block CI-101, Eni owns a participating interest in the other four blocks in the Ivorian deep water: CI-205, CI-501, CI-504 and CI-802, all with the same partner Petroci Holding.

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First Production from Rhum R3 Well

Serica Energy, which has a 50% working interest in the Rhum field, has announced the commencement of production from the Rhum R3 well.

The first production from the well was achieved on 23 August and since then work has continued to optimise production rates from the Bruce, Keith and Rhum fields. In the following days, gross Rhum production averaged over 190mmcsf/d of gas and 1,400bbl/d of condensate. This equates to average gross production in excess of 34,000boe/d for the Rhum field. This compares to a maximum rate of 26,000boe/d immediately prior to the commencement of R3 production.

The successful recompletion of R3 has increased the Rhum production capacity utilising the existing facilities located on the Bruce platform. This is in line with Serica's stated objective of reducing the carbon intensity of its production operations.

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DNO Scores Bergknapp Upgrade

DNO has announced that following the completion of an appraisal program on the 2020 Bergknapp discovery in the Norwegian Sea, the Company has upgraded its recoverable resource estimate for this licence by 35%.

With further appraisal drilling and testing, the size of the previously discovered recoverable resources in the Garn and Tilje formations is now estimated by the operator to range between 40 to 84 million barrels of oil equivalent (MMboe) of light oil. Additionally, a sidetrack drilled to a vertical depth of 4,854 meters below sea level encountered a 260-meter hydrocarbon column in the Åre formation not seen in the original discovery well.

The Åre reservoir is estimated by the operator to hold 13 to 56 MMboe of recoverable resources. Investigation of collected sidewall cores and fluid samples is ongoing to understand whether the hydrocarbons present in the Åre formation primarily consist of light oil, condensate or wet gas. Wintershall Dea is an operator of license PL836S with 40% and DNO Norge AS and Spirit Energy each hold 30%.

The Bergknapp discovery is located eight kilometres west of the Maria Field (Wintershall Dea operated) in an area with existing infrastructure. The partnership will now evaluate development options. Meanwhile, DNO's 2021 Norwegian exploration and appraisal program continue with the ongoing drilling of the Gomez prospect (DNO 65% and operator) and the Black Vulture appraisal well (DNO 32%). The Mugnetind exploration well (DNO 32%) will spud in September.

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Drilling Rig Contract Award

Chariot has announced that it has signed a contract with Stena Drilling, one of the world's foremost independent drilling contractors, to use its Stena Don drilling rig for the planned Anchois gas appraisal well within the Lixus licence, offshore Morocco. Drilling operations are anticipated to commence in December 2021 and are expected to take up to approximately 40 days.

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Hess Announces Oil Discovery at Pinktail, Offshore Guyana

ExxonMobil alongside partners Hess Corporation and CNOOC International has announced their 20th discovery in the prolific Stabroek Block, offshore Guyana. The Pinktail well encountered 67m of net pay in a high-quality oil-bearing sandstone reservoir.

Pinktail is located approximately 35mm southeast of the Liza Phase 1 development, which began production in December 2019, and 6km southeast of Yellowtail-1. Pinktail was drilled in 1,810m of water by the Noble Sam Croft.

In addition, it was announced that the Turbot-2 well encountered 13m of net pay in a newly identified, high-quality oil-bearing sandstone reservoir separate from the 23m of high quality, oil-bearing sandstone reservoir pay encountered in the original Turbot-1 discovery well.

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Energean Selects Halliburton for Offshore Israel Drilling Campaign

Halliburton has announced it was awarded an integrated services contract to execute a three to five well drilling and completions campaign for Energean, an independent E&P company focused on developing resources in the Mediterranean and the North Sea.

The work follows a successful four well offshore drilling campaign that Halliburton previously executed in the Karish and Karish North gas fields.

The three firm wells will be the Karish North and Karish Main development wells and the Athena-1 exploration well. The further two contingent exploration wells will be the Hercules-1 and Hermes-1 wells.

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Farm-Out of the Pharos Group's interests in the El Fayum and North Beni Suef Concessions, Egypt

Pharos Energy has entered into conditional agreements for the farm-out and sale of a 55% working interest and operatorship in each of the Egyptian El Fayum and North Beni Suef Concessions to IPR Lake Qarun Petroleum Co., a wholly-owned subsidiary of IPR Energy AG.

The consideration implies a gross (100%) value of up to US$115 million for the Assets and consists of US$5 million cash at the completion of the Transaction, funding of the Pharos Group's retained interest share of the cost of future activities on the Assets for US$38.425 million net (subject to working capital and interim period adjustments from the economic effective date of 1 July 2020), and contingent consideration of up to US$20 million dependent on Brent oil prices in each of the 4 calendar years from 2022 to 2025.

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Successful completion of Lille Prinsen appraisal wells on the Utsira High in the Norwegian North Sea

Lundin Energy Norway has successfully completed appraisal wells on the Lille Prinsen discovery, north of the Edvard Grieg field. The two wells have confirmed a combined updated gross resource range of 12 - 60 million barrels of oil equivalent (MMboe) and the discoveries are being matured for possible project sanction before the end of 2022. The wells in PL167 on the Utsira High, 15 km north of the Edvard Grieg platform, aimed to verify the hydrocarbon potential in the Lille Prinsen discovery, in order to progress the discovery towards a potential development.

The 16/1-34 A well was seeking to prove reservoir and production properties in the carbonate sediments of the Permian aged, Zechstein formation and well 16/1-34 S was targeting an oil leg in the Paleocene aged, Heimdal formation. Results confirmed a gross resource range of 10-50 MMboe in the Lille Prinsen discovery, where a drill stem test proved very good reservoir properties, with 33 API oil, tested at a facility constrained rate of 3,580 barrels of oil per day. A further discovery estimated at 2-10 MMboe was made in the Heimdal formation, with a 7m oil column in a 50m thick sand package, with good reservoir quality.

The partnership will now progress development studies in order to potentially submit a plan for development and operation (PDO) by the end of 2022, to meet the temporary tax incentives put in place by the Norwegian Government in July 2020. With the additional discovery in the Heimdal formation and further prospectivity in the surrounding licence areas, there is potential to add additional phases of development from further discoveries.

The wells were drilled by the Deepsea Stavanger semi-submersible drilling rig. Lundin Energy is the operator of PL167 with a 40% working interest and the partners are Equinor Energy AS with 30%, Spirit Energy Norway AS with 20%, and AkerBP ASA with 10% working interests. The Deepsea Stavanger rig will now proceed to the Merckx exploration prospect in PL981, immediately to the southwest of the Solveig field also on the Utsira High.

Well, 16/4-12 will target Paleocene aged sandstones and Permian aged carbonates, estimated to hold gross unrisked prospective resources of 152 MMboe. Lundin Energy is the operator with a 60% working interest and AkerBP ASA is the partner, with a 40% working interest.

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Spud of Egyptian Vulture Exploration Well

Equinor has spud wildcat well 6407/1-9 using Seadrill's West Hercules semi-submersible drilling rig within production licence 939 in the Norwegian Sea. The well will test the Egyptian Vulture prospect, an Upper Cretaceous turbidite play bounded within a regional graben located in the prolific Halten-Donna Terrace.

The key risks here are reservoir quality and thickness. The geological chance of success is 25% and gross mean prospective resources of 103Mmboe with potential upside to increase total to 208Mmboe. In addition upon success, there is potential to provide low-CO2 blending gas to the nearby Equinor operated infrastructure Asgard for quick monetization. Equinor is the operator of PL939 with 55% working interest alongside partners Longboat Energy plc Norge (15%) and PGNiG Upstream Norway AS (30%).

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Spud of Rødhette Exploration Well and Operational Update

Longboat Energy plc has announced that the Rødhette exploration well (7122/6-3 S) has been spud using the Scarabeo 8 drilling rig. The Rødhette prospect is estimated to contain gross mean prospective resources of 41 mmboe with further potential upside to bring the total to 81 mmboe. The chance of success associated with this prospect is 41% with the key risk being related to fault seal and oil column thickness. Rødhette is located in PL901, operated by Vår Energi (50%) alongside partners Equinor (10%), Longboat Energy plc (20%) and Concedo AS (20%).

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ANGP announces winners of the Angola 2020 licence round

On Friday 24th September, ANPG announced the awards for the Angola 2020 Public Tender Round. 9 blocks were available, three in the Congo Basin (CON1, CON5 and CON6) and 6 in the Kwanza Basin (KON5, KON6, KON8, KON9, KON17 and KON20).

Of the three international firms, MTI Energy was the biggest winner, operating 4 blocks and partnering in 1 whilst Brite Oil & Gas Ltd. will partner in three blocks and Itanka Group partner in 1 block. The remaining blocks will be operated by Angolan companies including Somoil, Mineral One, Simples Oil, Alfort Petroleum and AIS Angola.

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