Chariot Oil & Gas has secured the Ocean Rig Poseidon, a sixth generation deepwater drillship to drill one firm and one optional well.
Image: Ocean Rig Poseidon is a sixth generation deep water drillship. Photo: courtesy of Ocean Rig and AziNam Ltd.
As per the terms of the contract, the drillship will drill one well that will target Prospect S in the license, with an option to drill another well. Drilling of the second well will be based on the results of Prospect S well, said Chariot Oil & Gas.
The primary aim of the Prospect S well is to evaluate Cenomanian-Turonian age clastics within a structural trap, with the same reservoir proven in the past by the Murombe well drilled to the north by HRT five years ago. Further, the Prospect S well will assess deeper secondary objectives, located within the Albian and Aptian formations.
Drilling of the Prospect S well is slated to be carried out in the fourth quarter of this year.
Chariot Oil & Gas with a stake of 65% is the operator of PEL 71. It is partnered by AziNam (20%), NAMCOR (10%) and Ignitus Oil & Gas (5%).
Azinam managing director David Sturt said: “Prospect S is located in PEL 71 which extends over 16,000km² and if successful it will unlock significant value as we have a considerable stable of analogous drill ready prospects within this Licence and across our licence portfolio (62,000km2).”
According to Chariot Oil & Gas, Prospect S is estimated to hold resource of 459mmbbls with a further future potential upside of 2.2 billion bbls in other prospects, located within the Central Blocks license in Namibia.
Chariot Oil & Gas CEO Larry Bottomley said: “Operational plans are now well advanced for the first deepwater drilling in our Central Blocks licence in Q4 2018.
“We are continuing to take every advantage of the current historic low cost drilling environment as well as maximizing any further cost synergies by cooperating with other drilling operations in Namibia.”