Page 12 - AfrOil Week 02 2020

AfrOil
NEWS IN BRIEF
AfrOil
UPSTREAM
Invictus Energy receives priority project status for Cabora Bassa Project in Zimbabwe
Invictus Energy has announced that the com- pany’s Cabora Bassa project at Muzarabani held through the company’s 80% interest in Geo Associates (Private) Ltd has been classified as a priority development project by the Office of the President and Cabinet of Zimbabwe.
By way of background, the Ministry of Mines and Mining Development has been tasked to identify priority projects to be implemented under the new Zimbabwe Government’s fifth 100-day cycle priority projects using the Rapid Results Initiative.
The company’s Cabora Bassa project has been classified as one of the key projects within Zim- babwe that can provide a significant economic benefittotheeconomyinpursuitofthevisionof becoming a middle-income economy by 2030.
The board is encouraged by the strong sup- port being offered by the government of Zim- babwe to fast track the Cabora Bassa project to achieve a number of outcomes, including the finalisation of a production-sharing agreement (PSA) with the Republic of Zimbabwe. The PSA will ensure that a predictable, stable and trans- parent legal and fiscal regime is put in place that is commensurate with terms in the region, fol- lows international best industry practice and
meets the country’s aspirations.
Invictus and One-Gas Resources look for-
ward to working in conjunction with the Office of the President and Cabinet and the Zimbabwe Ministry of Mines and Mining Development and other Ministries to progress the Cabora Bassa project to ensure that key outcomes are delivered during this period.
The Cabora Bassa Project encompasses the Mzarabani Prospect, located in Special Grant (SG) 4571 in Muzarabani, a multi-TCF and liq- uids rich conventional gas-condensate target, which is potentially the largest, undrilled seis- mically defined structure onshore Africa.
The prospect is defined by a robust data- set acquired by Mobil in the early 1990s that includes seismic, gravity, aeromagnetic and geo- chemical data.
Invictus Energy, January 13 2020
Gabon: VAALCO Energy’s
Etame 11H development well
boosts production
VAALCO Energy has provided an update on its 2019/2020 drilling programme offshore Gabon and reported 2019 production volumes.
Cary Bounds, the company’s CEO, com- mented: “We are very pleased with the success- ful results of the second development well in our 2019/2020 drilling campaign that was drilled and completed on schedule and within budget. The high-quality reservoir we encountered in both the Etame 9H and Etame 11H wells has yielded two significant new producing wells
and validated our strategy to undertake this programme.
“We have increased our total company net production to approximately 5,900 bpd, which is up 70% from our 2019 full-year net average production of 3,476 bpd as a result of the Etame 9H and Etame 11H wells in addition to restoring production from the previously shut-in Etame 4H well. We have since commenced the worko- ver on the Etame 10H well, which if successful, could restore additional production of approxi- mately 200 bpd net to VAALCO. We then plan to move the rig to the SEENT platform to drill the SE Etame 4P appraisal wellbore, which could confirm additional development well locations in the Gamba reservoir.
“Our 2019/2020 drilling programme is cer- tainly delivering on its objectives through the enhancement of production and we continue to be encouraged by the recent strengthening of oil prices which bodes well for us given our predominantly fixed cost base at Etame. As a result, we are optimistic about our outlook for 2020 and remain focused on executing on our strategic plan and delivering continued positive operationalresults.”
VAALCO reached a total measured depth of approximately 9,022 feet (2,750 metres) in the Etame 11H development well and completed approximately 860 feet (262.1 metres) of hori- zontal section within the Gamba reservoir.
Similar to Etame 9H well, the initial devel- opment well in the 2019/2020 programme, the horizontal section of the Etame 11H well is at the top of the Gamba structure but at a different location. After installing production equipment, the well was brought online at a stabilised ini- tial flow rate of approximately 5,200 bpd gross, (1,400bpdnettoVAALCO)withnoH2S,which is significantly more than the pre-drill expected initial flow rate of 2,500 to 3,500 gross bpd (675 to 960 bpd net to VAALCO).
The Etame 11H development well was drilled and completed as planned and within budget, with no safety or environmental incidents. VAALCO Energy, January 09 2020
MIDSTREAM
Sound Energy provides
update on Eastern
Morocco portfolio
Sound Energy, the Moroccan-focused upstream gas company, has provided an update on the Environmental Impact Assessment (EIA) approvals, negotiations of Tendrara Gas Export Pipeline (TGEP) corridor rights and the Gas Sales Agreement (GSA) negotiations.
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Week 02 15•January•2020