-------------------------------------------------------------------------------------------
LOCAL CHEVRON NEWS RELEASE: Issued in Lagos, Nigeria, May 26, 2006
-------------------------------------------------------------------------------------------
The Nigeria – Sao Tome & Principe Joint Development Authority, Chevron and its co-venturers Esso Exploration and Production Nigeria-Sao Tome (One) Limited, and Dangote Energy Equity Resources, have encountered hydrocarbons in the Obo-1 exploration well in Block 1 of the Nigeria – Sao Tome and Principe Joint Development Zone.
The Obo-1 well logged a cumulative total of at least 150 feet (45 meters) of net hydrocarbon pay in multiple reservoirs and provided important reservoir rock and liquid samples, which need to be evaluated and integrated into the interpretation of the Obo Area to determine the next step of the appraisal process. At this stage, it is premature to determine whether or not Chevron and its co-venturers have made a commercial discovery.
The Obo-1 well is located in 1,720 meters of water (5, 640 feet) and the drilling operation was completed in 63 days on March 15th 2006. The JDZ Block-1 is located approximately 190 miles (300 kilometers) north of the city of Sao Tome and approximately 125 miles (200 kilometers) south of the city of Port Harcourt in Nigeria. Chevron JDZ Limited has a 51 percent equity share in the block while Esso Exploration and Production Nigeria-Sao Tome (One) Limited, and Dangote Energy Equity Resources have the remaining 40 and 9 percent equity, respectively.
Source: Chevron
2 comments:
Hi,
Have you heard anything about this discovery being larger than a 1B find to surpass that of the Akpo find?
Thanks for any info you might have heard.
Tommy R.
Nigeria seems to be booming with discoveries, but how is your government planning the management. Learnt there's still so much corruption in high places and the violent crisis in Niger Delta area!!
Post a Comment