Afren and its partner Oriental Energy Resources provides the independent analysis of the appraisal programme data on the Ebok Field, offshore Nigeria.

An independent assessment of the in place oil and recoverable oil reserves from the Ebok field by Netherland, Sewell & Associates, Inc. (NSAI), post drilling of the Ebok-4 appraisal well has preliminarily confirmed a P50 STOIIP of 148 mmbbls oil for the FB1 and FB-2 areas of the field. Recoverable reserves have been calculated at 41.2 mmbbls. NSAI has further assigned 14 mmbbls oil of resources to the FB-1 and FB-2 field area.

An additional 21 mmbbls oil of contingent reserves and 33 mmbbls prospective resources have been assigned to other areas of the field including the Ebok West and Ebok North Fault Blocks.

Afren’s Management Case comprises a STOIIP of 178 mmbbls with recoverable reserves of 52 mmbbls for the FB-1 and FB-2 on Ebok, recognising amplitude conformance indicating oil in the D2 reservoir extending further south as a most likely scenario.

Successful appraisal of the Ebok West fault block and Northern area closures plus down flank potential in the FB1/FB-2 areas, during the initial development phase of the field is expected to lead to increased field production and a potential reserves upgrade in line with the resource assessment outlined by NSAI.

This represents a significant success for the Ebok field partners with the results considerably exceeding pre-drill expectations.

Osman Shahenshah, Chief Executive of Afren, said, “The exceptional results from the Ebok appraisal drilling, well ahead of pre-drill expectations, confirm a material 52 million barrels recoverable oil development with upside potential of up to 106 million barrels. The Field Development Plan which will be submitted shortly by the partners for approval, encompasses a fast track Early Production System that will deliver up to 25,000 bopd in early 2010, with a full field development achieving up to 50,000 bopd by end 2010. This represents an outstanding success for the Ebok field partners and a transformational outcome for Afren. With a visible exit production rate of circa 65,000 bopd by end 2010, this ranks Afren firmly towards the top end of the London quoted established independent producers.”

Alhaji Mohammed Indimi, Chairman of Oriental, said, “We are delighted with the exceptional results of the Ebok appraisal drilling. From the quick turn around in the necessary preparation, and seamless operations during the appraisal drilling, is a testament to Afren’s strong technical skills, understanding of Nigerian oil and gas operations and strong partnership with Oriental. I am very proud of this achievement and look forward to working closely with Afren in finalising the Field Development Plan, the requisite approvals and preparations for development drilling on what will be one of the largest independent oil developments to date in Nigeria.”

Tags: Afren plc