A Review of the Nigerian Energy Industry

Afren jumps after significant oil find offshore Nigeria

Afren pix26 June 2013, London – London-listed Afren says its high impact Ogo-1 well on the OPL 310 licence offshore Nigeria discovered a significant light oil accumulation, based on the results of drilling and wireline logs.

Afren and Lekoil are drilling partners to the Nigerian player, Optimum Petroleum, which made the discovery.

Afren wrote in a statement on Wednesday: “Based on evidence to date, targeted resources are likely to be significantly in excess of previous estimates.”

It added: “The Ogo-1 discovery, testing a four-way dip-closed structure in the Turonian, Cenomanian, and Albian sandstone reservoirs, confirms the extension of the same Cretaceous sandstones that have yielded other significant discoveries along the West African transform margin.”

The Ogo-1 well has been drilled to a total measured depth of 10,518 ft (10,402 ft true vertical depth subsea), and has encountered a gross hydrocarbon section of 524 ft, with 216 ft of net stacked pay. The well was targeting 78 mmboe of gross P50 prospective resources, but based on evidence to date, targeted resources are likely to be significantly in excess of previous estimates.

Further evaluation using wireline log analysis is currently unde rway prior to extending the well to a total measured depth of 11,800 ft (11,684 ft true vertical depth subsea) to target further high potential zones.

The Ogo-1 discovery, testing a four-way dip-closed structure in the Turonian, Cenomanian, and Albian sandstone reservoirs, confirms the extension of the same Cretaceous sandstones that have yielded other significant discoveries along the West African Transform Margin.

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