Gas zaidi yagunduliwa Kusini

Mpanzi · 2014-06-04T09:26:30+00:00

Ophir Energy (LON:OPHR) revealed the latest success in Block 1, offshore Tanzania, where there has been another new discovery. The London listed oil and gas firm has a 20% interest in the Block 1, which is one of three blocks that host several gas discoveries which comprise a major LNG development project. In November, Ophir agreed a US$1.3bn deal to sell 20% of the project. The scale of the project is further boosted by the new discovery. The Taachui-1 well was drilled down to 4,215 metres and found gas in a 289 metre single column. It had 155 metres of net pay, and is estimated to contain 1tln cubic feet of recoverable gas. Furthermore, Ophir said the discovery could extend into second compartment, to the west, and that could be of a similar size. An appraisal well would be required to test this theory. Drill-stem testing of Taachui-1 will now take place, and the results are anticipated before the end of the month. "The Taachui-1 discovery continues the 100% drilling success rate on Blocks 1, 3 and 4 and adds further resource to support the LNG development in Tanzania," said chief executive Nick Cooper. "The result is important to Ophir for two reasons: firstly it extends the proven hydrocarbon system to the eastern limit of, and partly de-risks, Ophir's East Pande permit on which the Tende-1 well will be drilled later in 2014; secondly the aggregate recoverable volumes of c.16.7 TCF are now approaching the threshold needed to underpin a potential third LNG Train from Blocks 1, 3 and 4." The LNG project is operated by BG Group (LON:BG.). BG Group www.bg-group.com Share Price: 1221.8p Change: -6.2 (-0.5 %) Market Cap: 41657m Source:proactiveinvestors

Thread starter Mpanzi
Start date Jun 4, 2014

Mpanzi

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Gas zaidi yagunduliwa Kusini

Mpanzi

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