The Nigerian Agip Oil Company (NAOC) joint venture (JV) comprising NNPC (60 percent), Oando (20 percent) and operated by Eni (20 percent) has struck lucky with the discovery of gas and condensates estimated at one trillion cubic feet and 60 million barrels respectively.
Eni, NAOC parent company, described the discovery as significant in a statement released Tuesday in Milan, Italy, and said it was made “in the deeper sequences of the Obiafu-Obrikom fields in OML61, onshore Niger Delta”.
The fields are located specifically in Rivers State and the discovery is believed to be creating new excitement amongst members of the JV.
Even more exciting for the JV partners are the projected daily recoverable gas and condensates that the well holds. “The well can deliver in excess of 100 million standard cubic feet/day of gas and 3,000 barrels/day of associated condensates,” the company said.
It added that this will be immediately put on-stream to increase NAOC’s gas production.
According to the statement by Eni, the findings were made after reaching a total depth of 4,374 meters on the Obiafu-41 deep well where it encountered “an important gas and condensate accumulation within the deltaic sequence of Oligocene age comprising more than 130m of high quality hydrocarbon-bearing sands.”
It noted that the discovery has further potential that would be assessed with the next appraisal campaign.
According to the statement, the finding was made as part of a drilling campaign planned by NAOC JV and aimed at exploring near-field and deep pool opportunities as immediate time to market opportunities.
The Italian oil prospector has been in Nigeria since 1962 with what it called operated and non-operated production, development and exploration activities on a total of 30,049 square kilometres in the onshore and offshore areas of the Niger Delta.
Last year its production stood at 100,000 boe/day.
Frontpage February 21, 2020