Petrobras hits dead-end in Namibia

10 September 2012, Sweetcrude, LUANDA – PETROBRAS, Brazil’s oil giant, has come up dry in the Kabeljou exploration well in Southern Block 2714A in the Orange basin, off Namibia.

According to its well partner, Chariot Oil & Gas, preliminary logging results from the well, formally known as 2714/6-1, indicated that no commercial hydrocarbons were found in the well and, as a result, it would be plugged and abandoned.

The well was drilled to a total depth of 3150 metres using the drillship Ocean Rig Poseidon and intersected the Nimrod delta as planned, however Chariot noted the reservoir was less developed than anticipated at the well location.

“Whilst the results from Kabeljou are disappointing, the fact that we encountered source rock within this well is important,” said Chariot chief executive Paul Welch.

“The Nimrod prospect was our largest target in the south but there are still other areas of interest in this licence and these well results may provide us with the ability to identify additional prospectivity in other horizons.”

Chariot said a “comprehensive” evaluation programme would now be carried out to give the block partners a better understanding of the stratigraphy, lithology and the nature of the formation fluids in the area.

Petrobras operates Southern Block 2714A with a 30% stake while Chariot holds 25% and UK supermajor BP holds the remaining 45% interest.

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