Page 12 - AfrOil Week 15 2021

AfrOil PROJECTS & COMPANIES AfrOil

The ASD-1X exploration well is located 12 km The oil discovery was made after finding
away from the Al Jahraa field. UOG holds a 22% evidence of petroleum in Abu Rawash E and
working interest in the concession, which is middle Bahria reservoirs. The results of the
operated by Kuwait Energy Egypt. well-testing conducted on middle Bahria reser-
Separately, General Petroleum Co. (GPC) voir showed an initial production rate of 1,200
made a new oil discovery after drilling barrels per day (bpd) of oil and 1.2mn cubic
DSWS-1X exploration well following a $1.5mn metres of natural gas.
investment, according to a statement posted GPC said it intended to continue testing in
by the General Trade Union for Petroleum order to evaluate the well and put it into produc-
Workers. tion. ™

Nigeria’s ADM Energy hopes to contract

Eunisell for work at Barracuda oilfield

NIGERIA NIGERIA’S ADM Energy has indicated that it financing for the Barracuda project, it added. It
hopes to contract Eunisell, a local provider of oil did not elaborate.
and gas production solutions, for future work at Osamede Okhomina, the CEO of ADM
Barracuda, an oilfield within the shallow-water Energy, described Eunisell as a good partner
licence area known as OML 141. for his company. “The collaboration agreement
In a statement dated April 12, ADM Energy with Eunisell, one of Nigeria’s leading providers
said it had signed a non-binding agreement on of oilfield services and facilities, paves the way
collaboration with Eunisell. The document pro- to bringing another high-class partner into the
vides for the two sides to explore opportunities ADM fold. With a customer base in the region
for collaboration on the Barracuda project and featuring oil and gas majors, Eunisell has been a
related endeavours in Nigeria, it reported. key facilitator for the Nigerian oil and gas mar-
The statement did not say exactly what form ketplace for many years, helping operators to
this collaboration might take, but it indicated reach their production goals faster and at less
that ADM Energy wanted to sign a service capital costs. We look forward to building a
contract with Eunisell. “Activities under the relationship and are excited by the potential of
intended scope of work may include the supply, working alongside them to support the develop-
procurement, production and commissioning ment of our investments such as the Barracuda
of an early production facility, as well as labora- field in OML 141.”
tory services and extended well testing,” it said. According to a competent person’s report
ADM Energy also noted that the deal was (CPR) drawn up by Ryder Scott in 2016, Bar-
still subject to due diligence and stressed that racuda may contain 1.3bn barrels of oil in place
Eunisell was not yet one of its contractors for the (OIP) in P50 reserves. ADM Energy recently
Barracuda project. “It is the intention of both became an investor in the oilfield through its
parties, together with the risk-sharing consor- acquisition of a 51% stake in London-based
tium in respect of the Barracuda field, that a for- K.O.N.H. UK, which is an indirect shareholder
mal agreement will be entered into in advance of in the project. This transaction will give it con-
any work commencing,” it explained. trol of Noble Hill-Network Ltd (NHNL), a sub-
If the parties do sign a formal collabora- sidiary of K.O.N.H. UK that holds a 70% stake
tion agreement, Eunisell may provide vendor in the RSA covering Barracuda. ™

The Barracuda field lies within the OML 141 block (Image: ADM Energy)

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