ExxonMobil and partner Canadian Overseas Petroleum Ltd. (COPL) are planning to return to the waters offshore Liberia as early as next year after the duo delayed drilling plans due to an Ebola virus outbreak in the region.
 |
|
Map of Block LB-13. From COPL. |
With an estimated cost of US$120 million, the Mesurando-1 well will be drilled under the second exploration phase with a spud date in late 2016 or early 2017.
Mesurando-1 is in the deepwater Block LB-13 that covers 2500sq km.
The well’s primary goal is to prove a commercial quantity of hydrocarbons in the Cretaceous Santonianage reservoirs. Mesurando-1 is also expected to provide calibration for the seismic response, which the JV can use to evaluate other leads on the block.
In 2010, 3D seismic of the area showed similarities to recent deepwater oil discoveries made offshore Ghana and Sierra Leone. After an independent reserves evaluator conducted a gross prospective petroleum resource report for the block, 13 top prospects were chosen to derive a statistical aggregate number of 2.6 billion bbl of gross recoverable oil at the P50 (best estimate) probability level.
“Long lead items have been ordered and there is an on-going effort to secure a rig of opportunity. The exact timing of the well will be dependent on rig availability and when ExxonMobil can confirm third party contractor’s capability to operate in Liberia,” COPL said.
“This is a positive first step in proceeding with the drilling of the Mesurado-1 well, subject to overcoming the remaining logistical issues related to the need for participation from third party contractors,” Arthur Millholland, COPL president and CEO said. “While the delay to the exploration program has been frustrating for COPL and its shareholders, we are pleased to now have a timetable to work towards exploring this highly prospective acreage.”
The Ebola crisis that began in 2014 in Liberia caused significant impacts to the LB-13 operational schedule in 2014 and 2015 for Exxon and COPL. The JV announced the delay to their program in July 2014.
Even with the recent second declaration of “Ebola Free” status by the WHO, uncertainty continues to remain as to when ExxonMobil will be fully operational in Liberia. The “State of Emergency” agreement with NOCAL and Exxon, announced in 2014, provides for additional time to complete the work program in the second exploration phase of the LB-13 production sharing contract, COPL said.
ExxonMobil is the operator of Block LB-13 with 83% interest. COPL holds the remaining 17%.
Read more:
Subscribe
