Maurel & Prom confirmed that exploration well OMOC-N-1, drilled in the Onal AEE, has identified a 111-meter column of oil in the Gres du Kissenda. Pump tests have established a flow of 1,700 bpd of oil (flow limited by the pump's maximum capacity) with an API of 33.4.
The characteristics of this oil are similar to Onal's so it can be processed and evacuated using existing facilities.
The discovery of this oil accumulation confirms the extension of the Gres du Kissenda in the Onal AEE and the importance of this new exploration theme for the entire eastern edge of the Gabon coastal basin where the Group has significant exploration acreage.
The development expenditure for this discovery will be limited to the amount of the drilling wells and of the laying of collection pipes linking them to the Onal field facilities.
The Kissenda play has been encountered several times on the Omoueyi permit (M&P operator, 100%) with the OMKO, OMOE, OMAL and OMOC discoveries. This new play will supplement the Group's traditional research subjects, hitherto concentrated on Gres de base, which have been the springboard for the Group's major successes in this sedimentary basin.
This new success is a major step for the knowledge and the development of the Omoueyi permit. It reinforces Maurel & Prom's decision to prioritise two major development areas: Gabon and Nigeria. Other projects may either contribute to Maurel & Prom's growth depending on future results or be the subject of joint ventures with third parties.
Maurel & Prom (85%) operates the Onal production license and is partnered by Tullow (7.5%) and AIC-Petrofi (7.5%).
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