Page 17 - AfrOil Week 29 2021

AfrOil NEWS IN BRIEF AfrOil

SERVICES Further, Decklar is aware that Purion is also and Suffolk by the Federal Government of Nige-
seeking to enter into a RFTSA with Suffolk ria in 2004 as part of the first Marginal Field Pro-
Kraken signs contract Petroleum in respect of Suffolk’s 49% interest in gramme. A subsidiary of Prime was appointed
operator of the field.
the Asaramatoru oilfield.
with for underwater asset up to 5.5mn common shares of Decklar, as con- wells and commenced initial production testing
Prime and Suffolk re-entered the existing two
The SPA terms are based on the issuance of
inspection in West Africa sideration for the acquisition of all the issued and activities in 2014. The wells produced an average
outstanding Purion Shares. An initial issuance of 2,700 barrels per day (bpd) of oil during inter-
Kraken Robotics, Canada’s Ocean Company™, of 3.75mn shares will be completed, and in the mittent production over three years, with the
is pleased to announce several positive updates event Purion enters into an RFTSA in respect crude production being barged to an offshore
relating to the Company’s SeaVision® laser scan- of the Suffolk interest, an additional 1.75mn facility for storage and export. The two wells
ner developments and growth in its Robotics as Decklar Shares will be issued to the sharehold- have been shut in since late 2018 due to lower oil
a Service (RaaS) offering. Kraken’s SeaVision® ers of Purion. The Transaction will be subject prices and logistics connected with barging and
3D laser scanner technology will be used in the to customary conditions precedents to com- export activities, and limited storage facilities at
Company’s RaaS offering focused on three pri- pletion, including approval of the TSX Venture the well locations.
mary markets: mooring chain inspections, ship Exchange. Decklar and Prime’s next planned stages for
hull inspection and offshore wind farm inspec- Asaramatoru Field: The Asaramatoru Field, development of the Asaramatoru oilfield include
tion. After several years of development and operated and owned 51% by Prime and owned pulling out the existing tubing from the AST-1
numerous trials and technology demos , Kraken 49% by Suffolk Petroleum, is situated onshore in and AST-2 wells, running cement bond logs and
expects to ramp significant RaaS revenue from the southern swamp section of OML 11 in the cased hole reservoir saturation logs and running
SeaVision® laser inspection contracts. Notable Eastern Niger Delta area, which is one of the new dual-string completions in both existing
updates are as follows. largest onshore oil producing blocks spanning wells. It is then anticipated that an additional
Kraken recently signed a contract with a the coastal swampy section in the south to dry seven wells will be drilled for full field develop-
major international energy company to provide land in the north. The Asaramatoru Field is situ- ment, and production facilities, flow lines and
detailed underwater inspection of the customer’s ated in the vicinity of Andoni Local Government export facilities will be installed in phases as the
subsea assets. Under the contract, Kraken’s Sea- Area in mangrove forested terrain and is approx- field development progresses.
Vision® 3D laser scanner will be used to conduct imately 45 km from the oil city of Port Harcourt The full field development plan will include
underwater inspection of an umbilical termina- in Rivers State and approximately 40 km south the expansion of the processing facilities to ena-
tion assembly to acquire metrology data on tub- of the Oza Field. The Bonny Oil Export Terminal ble handling and processing of up to 20,000 bpd
ing within the internal structure. The work will and Bonny LNG plant are located approximately of crude for the expected peak production levels
be performed in the fourth quarter of this year 15 km south of the Asaramatoru field. including installing a 10-km export flow-line
in a West African country. The customer’s name The Asaramatoru Field was formerly oper- from the Asaramatoru oilfield to a tie-in point at
and the contract amount cannot be disclosed ated by Shell Petroleum Development Co. the Oloma Flow Station, which is connected to
due to confidentiality reasons. (SPDC). SPDC discovered the oil field in 1973 the nearby Bonny Export Terminal.
Kraken Robotics, July 15 2021 with the drilling of the AST-1 well, which dis- Duncan Blount, CEO of Decklar, stated: “The
covered 10 hydrocarbon bearing reservoirs. The participation in the proven Asaramatoru oilfield
Decklar Resources strikes AST-2 well was drilled by SPDC in 1989 and is another significant milestone for Decklar in
discovered additional oil reservoirs in a separate our growth strategy of acquiring and developing
share purchase agreement fault block. near-term cash flow generating assets in Nige-
ria’s Niger Delta region. With the acquisition of
SPDC never placed the two wells on produc-
to participate in Asaramatoru tion and suspended both wells after the drill- the interest in the Asaramatoru Field, we expect
ing and completion activities. Data available that Decklar will be producing from two oil-
Decklar Resources is pleased to announce the includes the wireline well logs, additional test fields, the Oza Field and the Asaramatoru Field,
completion of a Share Purchase Agreement to data, and a 3D seismic survey conducted in 1996. by the end of the year.”
purchase all of the issued and outstanding ordi- The Asaramatoru Field was awarded to Prime Decklar Resources, July 14 2021
nary shares of Purion Energy, a Nigerian entity
that has entered into a Risk Finance and Tech-
nical Services Agreement (RFTSA) with Prime
Exploration and Production, the Operator of
the Asaramatoru oilfield, to participate in the
continued development of the oil resources in
the field. The Asaramatoru oilfield is located in
OML 11, the same block where Decklar is also
currently developing the Oza oilfield.
Share Purchase Agreement between Purion
and Decklar: Decklar and Purion have signed a
Share Purchase Agreement (SPA) with respect to
the acquisition by Decklar of all of the issued and
outstanding ordinary shares of Purion. Purion
has separately entered into a RFTSA with Prime
with respect to the 51% equity interest that was
awarded to Prime in the Asaramatoru oilfield.

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