Page 13 - AfrOil Week 09 2020

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NEWS IN BRIEF
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UPSTREAM
Eni announces results from Agogo-3 well
Eni has successfully drilled Agogo-3, the second appraisal well at the Agogo discovery in Block 15/06 offshore Angola, increasing by about 40% the estimate of oil in place, which is now at 1bn barrels, with further upside to be tested in the Northern sector of the field.
Agogo-3 has been drilled by the Libongos drillship 1.5 km north-west of Agogo-2 and 4.5 km north-west of the Agogo-1 well. Agogo field is located approximately 180 km from the coast and 23 km from the West Hub (N’Goma FPSO). This appraisal well is located in a water depth of 1,700 metres and reached a total measured depth of 4,321 m.
Agogo-3 encountered up to 120 metres of net pay of light oil (31 degrees API) in sandstones of Miocene and Oligocene age with excellent petro- physical properties. An intense data acquisition has been carried out in the well; the data confirm the communication with Agogo-2 reservoirs and the further extension of the Agogo discovery to the North. Agogo 3 has been planned and drilled as a highly deviated well to reach the sequences below the thick blanket of salt, leveraging on Eni’s advanced proprietary seismic imaging technologies and confirmed the existence of oil charged and connected reservoir also in this subsalt sector of Agogo megastructure. The data acquired indicate a production capacity in excess of 15,000 barrels of oil per day.
The Block 15/06 Joint Venture (Eni, oper- ator, 36.8421%; Sonangol P&P, 36.8421%; SSI Fifteen Limited, 26.3158%) announced in Jan- uary 2020 the production start-up of Agogo field with a subsea tie back to N’Goma FPSO of Agogo 1, only nine months after discovery. Eni and JV partners have already started the studies to exploit the full potential of the field through a third production hub, targeting an FID in 2021. Eni, February 27 2020
Maurel & Prom reports
results from Kama-1 well
in Gabon
Etablissements Maurel & Prom announces the completion of drilling operations on the Kama-1 exploration well on the Kari licence in south Gabon.
The well encountered several series of oil shows between 1,865 and 2,701 metres (total depth of the well) in the Kissenda formation, the main objective of the drilling, and a sample of 35 degrees API oil has been collected. However the
mediocre quality of the reservoirs did not justify a commercial test.
The drilling nevertheless confirms the pres- ence of an active petroleum system in the region. It also provided additional data that will be help- ful for the continuation of exploration activities in the area, and in particular for the definition of the second well.
Maurel & Prom, February 25 2020
LNG
Eni in deal on disputes
affecting Union Fenosa
Gas and allowing restart
of Damietta plant in Egypt
Eni signed today a series of agreements with the Arab Republic of Egypt (ARE), Egyptian Gen- eral Petroleum Corp. (EGPC), Egyptian Natu- ral Gas Holding CO. (EGAS) and the Spanish company Naturgy, which pave the way for the restart the Damietta liquefaction plant in Egypt by June 2020. The liquefaction plant’s owner is the company SEGAS, which is 40% owned by Eni through Union Fenosa Gas (50% Eni and 50% Naturgy). The plant has a capacity of 7.56bn cubic meters per year but has been idle since November 2012.
Also thanks to the fast time to market of Eni’s new natural gas discoveries, especially the ones in the Zohr and Nooros fields, Egypt has regained its full capacity to meet domestic gas
demand and can allocate surplus production for export through its LNG plants.
The agreements provide for the amicable resolution of the pending disputes of Union Fenosa Gas and SEGAS with EGAS and ARE, and the subsequent corporate restructuring of Union Fenosa Gas, whose assets will be divided between the shareholders Eni and Naturgy.
In particular, the participation of Union Fenosa Gas in the Damietta plant (80%) will be transferred 50% to Eni and 30% to EGAS. The resulting shareholding of SEGAS will therefore be Eni 50%, EGAS 40% and EGPC 10%. Eni will also take over the contract for the purchase of natural gas for the plant and will receive corre- sponding liquefaction rights, thus increasing the volumes of LNG in its portfolio by 3.78bn cubic meters per year, which will be available on an FOB basis, with no destination restrictions.
As regards Union Fenosa Gas’ assets outside Egypt, Eni will take over the commercial activ- ities of natural gas in Spain, strengthening its presence in the European gas market.
Eni, February 27 2020
SERVICES
Maersk Drilling wins
one-well contract
offshore Egypt
Maersk Drilling has been awarded a one-well contract for the semi-submersible rig Maersk Discoverer offshore Egypt.
Week 09 04•March•2020
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