ConocoPhillips Makes Discovery in Douala Basin

ConocoPhillips' Coco Marine No. 1 exploratory well, offshore Cameroon, successfully flowed oil during a drill stem test of a Lower Tertiary reservoir pay interval encountered during drilling. The well was spud Oct. 26, 2002, in 75 feet of water depth in exploration permit PH 77, offshore Douala Basin, Cameroon. The well was drilled to a total depth of 8,620 feet. A maximum flow rate of 3,000 barrels of oil per day of 34-degree API gravity oil and 1.8 million cubic feet of gas per day were obtained during the test. The test marks the first successful flow of liquid hydrocarbons from a Tertiary reservoir in the Douala Basin.

Contractor interests in the 2,830 square mile permit are held 50 percent by Phillips Petroleum Company Cameroon, a subsidiary of ConocoPhillips, and 50 percent by Petronas Carigali Overseas Sdn. Bhd., a subsidiary of Petronas Carigali. ConocoPhillips serves as the operator of the consortium.

ConocoPhillips and Petronas are currently analyzing well results, and will be working with the National Hydrocarbon Corporation of Cameroon (SNH) on developing forward plans to evaluate the Coco Marine discovery and other identified leads in the permit.