Afren plc and Lekoil have agreed to farm-out terms for license OPL 310 that lays offshore Nigeria which holds the Ogo prospect that is currently being drilled. Under the terms of the agreement, Afren has farmed out a 17.14 percent interest in license to Lekoil, pending Nigerian Ministerial Consent. The indigenous Nigerian company Optimum Petroleum Development Ltd. is the operator of the block and will continue to hold a 60 percent participating interest.
The GSF Monitor (350' ILC) spud the Ogo prospect which is a four-way dip-closed structure in the Turonian to Albian sandstone reservoirs. The well is targeting 78 million barrels of oil equivalent of gross P50 prospective resources, stated Afren in a press release. Drilling commenced April 23 and is currently at a depth of 3,500 feet.
Drilling is expected to last 90 days and includes a planned sidetrack which will test a new play of stratigraphically trapped sediments that pinch-out onto the basement high targeting 124 million barrels of oil equivalent of gross P50 prospective resources.
“We are delighted to have successfully concluded a farm-out on OPL 310, offshore Nigeria and welcome Lekoil as a partner in exploring the significant potential of this under-explored region of the West African Transform Margin,” said Osman Shahenshah, chief executive of Afren, in a press release.
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