Afren plc announces successful outcome of the Ebok field appraisal
Further to the announcement on 3rd February, 2009 relating to the completion of appraisal drilling on the Ebok Field, offshore Nigeria, Afren plc and its partner Oriental Energy Resources (“Oriental”) are pleased to announce the independent analysis of the appraisal programme data.
An independent assessment of the in place oil and recoverable oil reserves from the Ebok field by Netherland, Sewell & Associates, Inc. (“NSAI”), post drilling of the Ebok-4 appraisal well has preliminarily confirmed a P50 STOIIP of 148 mmbbls oil for the FB1
and FB-2 areas of the field. Recoverable reserves have been calculated at 41.2 mmbbls. NSAI has further assigned 14 mmbbls oil of resources to the FB-1 and FB-2 field area.
An additional 21 mmbbls oil of contingent reserves and 33 mmbbls prospective resources have been assigned to other areas of the field including the Ebok West and Ebok North Fault Blocks. Afren’s Management Case comprises a STOIIP of 178 mmbbls with recoverable reserves of 52 mmbbls for the FB-1 and FB-2 on Ebok, recognising amplitude conformance indicating oil in the D2 reservoir extending further south as a most likely scenario.
Successful appraisal of the Ebok West fault block and Northern area closures plus down flank potential in the FB1/FB-2 areas, during the initial development phase of the field is expected to lead to increased field production and a potential reserves upgrade in line with the resource assessment outlined by NSAI. This represents a significant success for the Ebok field partners with the results considerably exceeding pre-drill expectations.
Afren and its partner Oriental are currently defining the field development scenario which includes the potential to install an Early Production System (“EPS”) at the field (subject to all necessary approvals in country) that could deliver production of 15,000 – 25,000 bopd from the field in early 2010 from 5 or more horizontal production wells and 1 water injection well drilled in the FB-1 and FB-2 areas of the field and tied back to a Floating Production Storage Offloading (“FPSO”) vessel moored at the field. A second development phase on the FB1 and FB-2 area of the field would entail the drilling of a further 8 or more development wells and increase full field production from between 35,000 to 50,000 bopd by end 2010.
