07 August 2013, News Wires – Africa-focused Ophir Energy has been given more time to review data from its failed Starfish-1 wildcat offshore Accra, Ghana, said Australian junior partner Tap Oil.
Tap announced on Wednesday that Ghana’s Ministry of Energy and Petroleum had granted a six-month extension to the initial exploration period of the Offshore Accra Contract Area’s petroleum agreement.
This extension will give the joint venture additional time to undertake a thorough review of the data from the Starfish-1 well, Tap said.
The probe was drilled in 1500 metres of water by the drillship Stena DrillMax in June. The joint venture had been targeting prospective resources of 431 million barrels but early reports during wireline logging had indicated that “no moveable hydrocarbons” were present.
The well has now been plugged and abandoned at a total depth of 4380 metres.
However, it is understood there is possible evidence of residual oil in the primary and secondary targets which could provide support for an active petroleum system in the Offshore Accra Block.
Tap said Ophir was continuing to work on the existing lead and prospect inventory.
Ophir operates the Offshore Accra Contract Area with a 20% stake. Other joint venture participants include Tap (17.5%), Vitol Upstream (30%), Afex Oil (20%) and Rialto Energy (12.5%).
The initial exploration period will now expire on 23 March 2014, by which date the joint venture is required to decide whether to enter into the first extension period.