The Qua Ibo Field was discovered in 1960 by the Qua Ibo-1 well, which encountered oil pay in sandstone reservoirs at depths of 3,600 feet and 7,000 feet. Field confirmation was provided by the Qua Ibo-2 well drilled in 1971, which penetrated the same oil-bearing reservoirs. The Qua Ibo Field has significant hydrocarbon reserve potential as evaluated from well and seismic data.
Mart and Network have completed a detailed technical evaluation of the Qua Ibo Field. Early development operations could include re-entry and testing of the suspended Qua Ibo-2 well. The field is located within two kilometers of ExxonMobil's Qua Ibo processing and export terminal.
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