A Review of the Nigerian Energy Industry

US’ Cobalt hits high-quality oil in Angola

10 February 2012, Sweetcrude, LUANDA – Cobalt International Energy, the US-based deepwater explorer, says results from pre-salt flow testing at a well offshore Angola have proven to be above expectations.

The company said its Cameia-1 well was drilled in Block 21 offshore Angola, with wireline logging taking place at a total depth of 4,886 metres.

It encountered a 360 metre gross continuous oil column with over a 75% net to gross pay estimate. No gas-and-oil or oil-and-water contact was found in the logs.

An extended drill stem test later confirmed the presence of a high quality reservoir, the company stated, adding that the oil flowed at an unstimulated rate of 5,010 barrels of oil per day and 405,000 cubic metres per day of gas with limited drawdown.

Joseph Bryant, Cobalt’s chief executive officer, said the results had increased the company’s confidence in its entire West Africa pre-salt exploration inventory, while chief exploration officer James Farnsworth said he had high hopes for the project.

“Based upon our analysis of the test data, if not limited by the test equipment on the rig, we believe the well would have the potential to produce in excess of 20,000 barrels of oil per day,” he said.

“In addition, we have yet to drill our deeper targets at Cameia, which if successful will provide additional upside potential.”

Following the results, Cobalt and its partners have agreed to start an appraisal drilling programme to further assess the discovery, aiming to spud the Cameia-2 appraisal well in February with an evaluation period to follow.

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