ERHC Energy Inc (ERHE)

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Chevron keeps mum over Obo-1

By Upstream staff

US supermajor Chevron has finished drilling Obo-1 wildcat, in Block 1 of the joint development zone jointly administered by Nigeria and Sao Tome, but the results of the well are under review, the company said today.

Chevron did not reveal whether the probe, sunk in 1720 metres of water, hit oil, revealing only that the well was completed on 15 March after 63 days.

The results from the drilling of the Obo-1 well are currently under review by Chevron and its partners to determine the next steps in our exploration program," the company said in a statement.

The well is the first to be drilled in the highly prospective deep water area of the Gulf of Guinea.

Chevron has operates Block 1 with a 51% stake, ExxonMobil has 40%, with local partner Dangote Energy Equity Resources holding the remainder.