Noble Affiliates Announce Extension of Alba Field

Noble Affiliates announced that the successful completion and testing of a major natural gas and condensate well, Alba #9, in the Alba Field of Equatorial Guinea, has lead to a near doubling of the field's proven and probable reserves, which now exceed 1 billion barrels of oil equivalent (gas converted at 6,000 cubic feet of gas to 1 barrel of oil).

The Alba #9 well which was drilled by Transocean Sedco Forex's jackup, Randolf Yost, is located 2.4 miles from the nearest producing well in the Alba natural gas and condensate field. The field is located 18 miles offshore Equatorial Guinea, north of Bioko Island. The well tested at a rate of 37.5 million cubic feet of gas per day and 2,400 barrels of condensate (46 degree API gravity) per day from 120 feet of perforations on a one-inch choke at 2,473 pounds per square inch flowing tubing pressure and 197 pounds per square inch bottom hole pressure draw down. It is estimated that the well will be capable of producing 100 million cubic feet of gas per day and 6,200 barrels of condensate per day.

The well encountered 1,000 feet of gross sand thickness and 732 feet of net pay. As a result of this well and the previous Alba #8 well, together with reservoir data, the estimated proven and probable reserves for the field are more than 300 million barrels of liquid hydrocarbons associated with 4.6 trillion cubic feet of natural gas.

A recently completed development program for the Alba Field increased daily production from 6,900 barrels of condensate, 1,800 barrels of natural gas liquids and 93 million cubic feet of gas per day to the current level of 16,000 barrels of condensate, 2,400 barrels of natural gas liquids and 240 million cubic feet of gas per day. Approximately 105 million cubic feet of gas per day is being utilized in the AMPCO-operated methanol plant that just began operation on Bioko Island, and the remaining gas is being re-injected into the reservoir. Noble and its partners are actively evaluating development scenarios to significantly expand the facilities to increase condensate and natural gas liquids production.

Participants in the Alba Field include the operator CMS Oil and Gas (E.G.) Ltd., a subsidiary of CMS Energy Corporation, 52.38 percent; Noble Affiliates, 33.75 percent; Globex International, 10.87 percent; and the government of Equatorial Guinea, 3 percent.

Participants in AMPCO include Noble Affiliates, Inc., 45 percent; CMS Energy Corporation, 45 percent; and the government of Equatorial Guinea, 10 percent.


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