kuxw0: Here is full article. Nothing new but still good to see more press.
July 2006 - << Issue Index
Exploration and production
Nigeria-São Tomé e Príncipe: A discovery
THE INDUSTRY's best-kept secret became public in late May when Chevron confirmed it had made a discovery with the first well drilled in the Joint Development Zone (JDZ), the formerly disputed offshore area between the two countries. Chevron said its Obo-1 well encountered hydrocarbons and was logged to show a cumulative 45 metres of net payzone in multiple reservoirs. Rock and liquid samples were taken. However, the firm said "at this stage it is premature to determine whether [we] have made a commercial discovery."
Rumours of a significant find began to circulate in mid-March when the well, spudded on 14 January and drilled for 63 days, was due to have reached total depth. With licences for neighbouring blocks at that time not signed, Chevron wanted to keep the well "tight". However, after government and industry sources hinted at a substantial discovery, Chevron made its announcement from Lagos. The firm would not say what follow-up work was planned – but industry sources say another well, targeting the centre of the Obo structure, is likely to be spudded late this year or early next.
Obo-1 was drilled by Transocean's Deepwater Discovery drillship, operating in 1,720 metres of water. Location is 200 km south of Port Harcourt, Nigeria, and 300 km north of São Tomé, in Block 1 of the JDZ. The licence to the block is held by Chevron, 51%, ExxonMobil, 40%, and Dangote Energy Equity Resources, 9%. The latter venture is 49% owned by UK-based Afren, which owns Norway-registered Energy Equity Resources. Afren's chief executive, Brian O'Cathain, said he was delighted that "the first well in this area has proved oil and gas".
Bill