Thursday, June 7, 2012

Light Oil Struck off Cote d'Ivoire

Tullow Oil has made a light oil discovery off the coast of Cote d’Ivoire on Block CI-103. The drilling of the Paon-1X well, the first well to be drilled on the block, encountered good quality light oil in a Turonian fan system.

Paon-1X, drilled by the Eirik Raude, encountered 31 meters of net oil pay in a gross interval of 74 meters of turbidite sands. Pressure data indicates that this interval contains a continuous hydrocarbon column and samples show that it is a light oil of 41 degrees API. Further analysis is required to determine reservoir quality and the extent of the fan system.
Following completion of logging operations, the well will be suspended for possible future use in appraisal and development operations.

Participants in the drilling of the Paon-1X well are Tullow Oil (operator), Anadarko Petroleum, and Côte d’Ivoire’s state-run firm Petroci.

Angus McCoss, Tullow’s exploration director, said: “The discovery of light oil in our first well in CI-103 extends the proven play for oil westwards from our successes in Ghana and is encouraging for our future exploration efforts elsewhere in this licence. We look forward to further drilling in CI-103 during 2013.”

“The Paon well marks the first deepwater discovery in the CI-103 block offshore Côte d'Ivoireand opens up an entirely new play for the countryand our partnership,” Anadarko Sr. VP, Worldwide Exploration, Bob Daniels said. “This discovery confirms the Upper Cretaceous fan system present in Ghana extends westward into Côte d'Ivoire and provides significant running room within the CI-103 block. We are very encouraged by these resultsand look forward to appraising this discoveryand testing a number of other identified prospects on our acreage.”

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