Africa E&P Update June 2019

Latest update from NVentures on Exploration, Appraisal & Development, Deal Transactions and Bidding Rounds.

Exploration Drilling

Eni continue to dominate the vanguard of exploration in sub Saharan Africa in April with discoveries in Angola and Ghana, new deepwater acreage in Ivory Coast and a major farm-in offshore Mozambique. Total are not far behind with a major campaign starting in Senegal and heading to Namibia later this year.

In Angola Eni announced a single oil column of around 65m with 45m of net pay of 35 API oil at Ndungu-1 NFW, Block 15/06. The firm is set to continue an intensive drilling campaign on this prolific block.

In Ghana, Eni and Vitol announced Akoma-1, Offshore Cape Three Points, has discovered an estimated volume of 550-650 bcf of gas and 18-20 mmbbl of condensate. Eni has exercised a 35-day option to continue the contract tor the Maersk Voyager drillship. The rig is currently located south east of the Sankofa field.

Elsewhere in Ghana Aker and its related company AGM are actively drilling. Aker say oil was encountered at Pecan South East-1A, Deepwater Tano Cape Three Points block. However a side-track was also drilled to further appraise the volume potential, where oil shows were encountered but there were no recoverable resources due to a tight reservoir.

AGM are understood to have taken the same rig to spud one or two wells on the South Tano Deepwater Block. The Block was originally signed in 2013 and has a long history of not being ratified, but it did achieve that goal in 2019. AGR (part owned by Aker), Minexco and MED Songhai formed a JV after separately being unable to tie the Petroleum Agreement down.

In Egypt Transglobe announced the HW-2X discovery well, H Block, is producing around 700 bopd. Transglobe drilled the K-63 development well, which has been cased as an Asl A formation oil well. The rig is scheduled to move to the NWG 38 D-1 exploration well. Dana Gas are starting a very exciting multi-TCF prospecting campaign offshore, with drilling operations commencing at Merak-1, North El Arish (Block 6), on 20th May. Drilling is expected to take 70 days to drill, with 4 to 6 TCF targeted in this first of 3 wildcat tests.

In Morocco Sound Energy announced disappointing results at TE 10, but interesting plans to test the rest of the play soon. Flow rates during a stimulated well test at TE-10, Tendrara, were not commercial. An update on plans for TE-11 will be announced soon.

News from Nigeria suggests the NNPC well Kolmani River-2, OPL 809, is ongoing and has gone past 3,070m.
Total / Petronas are understood to be drilling ahead in Senegal at JAMM-1X, Rufisque Offshore Profond. This is an important test of the outboard trend and may open up the deepwater Lower Cretaceous play from here to Guinea Bissau. Between Senegal and Mauritania, BP and Kosmos are drilling the Orca 1 and GTA 1 wells near Ahmeyin Tortue.

In Tunisia Mazarine said a production test at Sidi Marzoug-1 (SMG-1), Zaafrane Permit, flowed at a rate of 2,000 bopd and 5 mmcfgd.

Maersk announced they are planning to drill for Noble in Equatorial Guinea, most likely on the I Block.

Tower Resources have put back NJOM 3 in Cameroon (Thali Block) to July.