Sign In or Register | Thursday, February 22, 2024
AfricaTeam,   2/9/2024 3:19:52 PM Add AfricaTeam as a Friend | Send Message
Africa See Profile
Africa Oil Provides Namibia and Nigeria Operational Update

 VANCOUVER, BC, Feb. 8, 2024 /CNW/ - (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. ("Africa Oil", "AOC" or the "Company") notes the statements made by TotalEnergies, the operator of Block 2913B offshore Namibia, in their 2023 Results Presentation, delivered yesterday, regarding the ongoing exploration and appraisal activities on Block 2913B. Africa Oil has an interest in this block through its 31.1% shareholding in Impact Oil & Gas Limited ("Impact"). View PDF version

 


Mangetti-1X exploration well has intersected hydrocarbon-bearing intervals in the Mangetti fan prospect, a separate system to the Venus oil discovery. Mangetti-1X also achieved its secondary objective of successfully intersecting and appraising the northern area of the Venus accumulation. Mangetti has the potential to add additional recoverable resources on Block 2913B, and the joint venture partners are working to determine the next step in the evaluation process.

 

The acquisition of 3D seismic in the southern area of Block 2913B, is progressing with the aim of evaluating additional drilling targets.

The Company also notes the press release by TotalEnergies, operator of PML 2 that covers the Akpo field, offshore Nigeria, announcing the start-up of production from Akpo West.

Located 135 kilometers off the coast, Akpo West is tied back to the existing Akpo Floating Production Storage and Offloading ("FPSO") facility, which started-up in 2009 and produced 124,000 barrels of oil equivalent per day in 2023. By mid-2024, Akpo West will add 14,000 barrels of condensate production per day, to be followed by up to 4 million cubic meters of gas per day by 2028. Africa Oil has an interest in PML 2 through its 50% ownership in Prime Oil & Gas Coöperatief U.A, which has a 16% interest in PML 2.

 

Africa Oil President and CEO, Roger Tucker commented: "The positive results of the Mangetti-1X well present us with a new fairway opportunity, potentially adding a new recoverable resource base on Block 2913B. Our involvement in Block 2913B continues to be exciting, with further work underway to understand the potential of Mangetti, alongside the Venus-2A appraisal well, currently drilling.

Africa Oil is encouraged to have the operator's confirmation of the start-up of production on Akpo West. Utilizing the existing Akpo FPSO, Akpo West presents us with advantaged and high netback production in a low operating cost and with a low emission project."

 

Block 2913B (PEL 56) and the Venus Discovery


Petroleum Exploration License 56, Block 2913B, is located offshore southern Namibia and covers approximately 8,215 km² in water depths between 2,450m and 3,250m. Impact currently holds a 20.0% interest in this block. TotalEnergies, the operator, holds a 40.0% interest, QatarEnergy holds a 30.0% interest, NAMCOR, the Namibian state oil company, holds a 10.0% interest. On the closing of the strategic farmout agreement between Impact and TotalEnergies, announced on January 10th, 2023, Impact will hold a 9.5% carried interest in this block. Please use this link to access the press release for more information:

 

https://africaoilcorp.com/site/assets/files/1861/africa_oil_corp_africa_oil_announces_strategic_farmout_c2_a0of_impac.pdf

 

Block 2913B contains the world class Venus light oil and associated gas field that was discovered by the Venus-1X well drilled in 2022, which encountered high-quality light oil-bearing sandstone reservoir of Lower Cretaceous age. This well was re-entered, side-tracked and tested in in third quarter 2023, achieving positive test results. These results are being interpreted and incorporated into the development studies for the field.

Further appraisal of the Venus structure was undertaken with the drilling and testing of the Venus-1A appraisal well. A fourth appraisal well on the Venus structure, Venus-2A, is currently drilling.

 

In addition to the on-going drilling operations a 3D seismic acquisition program over the southern part of Block 2913B is currently under way. This program will cover an area where further follow-on prospectivity bas been identified from existing 2D seismic data sets.

 

 

 

Tags:Africa Oil Provides Namibia and Nigeria Operational Update
Bookmark and Share Email Email to Friends Print Print
1
Comments(0)
Please Sign In  or Register  to post a comment.
UserName:
Password:

 
Facebook Twitter YouTube Instagram Linkedin African Music
Push
Post a New Story from your Account, then Vote for it Here by clicking Push



Most Popular
Latest Forums
Latest Polls
Links
Tags
    Nigeria    Kenya    
South Africa    Ghana    
Africa's Top 10 National Parks    The Cost of an African Safari Adventure: From Budget to Luxury    Egypt    Ethiopia    Zimbabwe    
Uganda    Africa    Tanzania    African Development Bank    Test    Kenya a Hot bed of Investments    Mosi-oa-Tunya Falls "The Smoke That Thunders"    Pope Francis On Safari In Kenya    The Greatest Footballer Ever    Malawi    
Media Kit | Site Map | Help | Send Feedback | Contact us | User Agreement | Privacy | About us
Copyright © 2022-2024 "Africa Updates" All rights reserved