African Petroleum Finds Drilling Success Off Liberia

- African Petroleum Finds Drilling Success Off Liberia

Friday, September 09, 2011
African Petroleum

African Petroleum has completed drilling the first well (Apalis-1) in deep water offshore Liberia in Block LB-09.

The results of Apalis-1 confirm Blocks LB-08 and LB-09 (100% owned by African Petroleum) are located in a prospective oil basin, which is a major step forward. The geological and geophysical data have confirmed the critical components of a working hydrocarbon system are present and functioning. The Company is now accelerating a multi well drilling program on the 25+ exploration prospects identified on Blocks LB-08 & LB-09 offshore Liberia and are planning to drill the next well during 4th quarter 2011 and 1st quarter 2012.

Apalis-1 was drilled to a depth of 3665 meters and encountered oil shows in several geological units including the shallower (Tertiary) and deeper (Cretaceous) and petrophysical analysis indicates the presence of hydrocarbons. The well also confirmed the presence of organic oil prone source rocks confirming that Blocks LB-08 & LB-09 are in an attractive oil basin.

No commercial quality reservoir with hydrocarbons was encountered and consequently no well production test was undertaken.

The well was drilled without any technical problems and the costs have been materially under budget.

Having confirmed a working hydrocarbon system with the first well the forward exploration programme will focus on the deeper basinal zone where improved reservoir quality is anticipated in the well-developed Cretaceous fan system.

Karl Thompson, CEO, comments that “This is the first the first ever frontier well in the deep water in Liberia and has confirmed we are exploring in a highly prospective oil basin which was its key objective and we are committed to continuing exploration in the area”.

SIERRA LEONE

The 3D seismic survey underway in Block SL-03 Sierra Leone (100% owned by African Petroleum) to the west of the Anadarko Venus and Mercury discoveries is progressing well and is now 65% complete. The 3D survey is the start of the initial exploration phase in exploring for similar Upper Cretaceous targets as the nearby Mercury and Venus discoveries.

GAMBIA

The interpretation of the 3D seismic survey in The Gambia (60% owned by African Petroleum) is progressing very well and an extensive system of Upper Cretaceous fan systems has clearly been identified.

African Petroleum is one of the largest net exploration holders in the West African Upper Cretaceous Exploration fairway and is making continued progress in acquiring new exploration licences.

Oil & Gas Post

Promote Your Page Too
LINK

Eastern African Energy Riches Attract Interest

- Eastern African Energy Riches Attract Interest

Wednesday, September 07, 2011
OilPrice.com
by Joao Peixe

Energy deposits located in east African nations and their offshore coastlines are increasingly drawing foreign investor interest.

Recent surveys have led analysts to estimate that Mozambique has over 6 trillion cubic feet of recoverable natural gas reserves while neighboring Tanzania's natural gas reserves could exceed 7.5 trillion cubic feet.

Petroleum Development Consultants managing director David Aron noted, "The interesting question is whether there will be a (natural gas) liquefaction plant in both Tanzania and Mozambique or whether a single shared location could be developed," adding that Mozambique's natural gas from its Pande and Temane onshore fields could be exported to neighboring South Africa while Tanzanian natural gas, produced from its offshore fields, would be used primarily for power generation, allowing it to reduce its imported energy costs, Nairobi's The East African reported.

Both Tanzania and Mozambique are currently plagued by indigenous energy shortages, which lead to electrical blackouts.

Tanzania, East Africa's second- biggest economy, before its natural gas fields begin production, is seeking to relieve its electricity shortages in the interim by promoting geothermal energy. Tanzanian Energy and Minerals Deputy Minister Adam Malima said, "We are moving toward more environmentally friendly sources of energy as our demand increases. We are looking to the private sector to see if there is interest in geothermal development."

(Joao Peixe is Deputy Editor of OilPrice.com. The original article appears here.)

Oil & Gas Post

Promote Your Page Too
LINK

South African Govt Places Moratorium on Fracking

South African Govt Places Moratorium on Fracking

Friday, April 22, 2011
Deutsche Presse-Agentur (dpa)

South Africa's government placed a moratorium on licences for fracking, a technique used to extract gas in the Karoo Basin region, pending further research.

Hydraulic fracturing, also known as fracking, sees a pressurised mixture of water, sand and chemicals pushed down drill holes, to explore for and then extract shale gas.

Shell is among several major energy companies keen on exploring the Karoo, a semi-arid region in the west of the country, using fracking.

Green groups worry about the effects of the technique, which could worsen air and water quality.

A government statement, announcing the moratorium, said the mineral resources department along with the trade and industry and science and technology departments, would lead research into the technique.

"Cabinet has made it very clear that (a) clean environment together with all the ecological aspects will not be compromised," government spokesman Jimmy Manyi was quoted by the SAPA news agency as saying.

S. Korea Seeks Role in African Energy Development

S. Korea Seeks Role in African Energy Development

Friday, March 25, 2011
Asia Pulse Pte. Ltd

South Korea is seeking to take part in various energy development projects in Africa in an effort to boost mutual economic growth and make better use of natural resources, the government said Friday.

The Ministry of Knowledge Economy said a delegation led by Deputy Minister Kim Jung-gwan visited Angola and Ghana earlier in the month and discussed ways to expand cooperative tie-ups in liquefied natural gas (LNG), oil field development and oil refinery construction.

"Officials from both countries expressed a wish to forge a win-win partnership involving energy development, sharing of economic growth knowhow and fueling business investments," the ministry said.

The ministry added that Angola and Ghana have untapped natural resources and have considerable growth potential. Angola is the third-largest oil producing country in Africa, while Ghana started oil production last year and aims to build up its industrial infrastructure.

A memorandum of understanding on energy cooperation was signed with Ghana with views being exchanged on allowing South Korea companies to take part in a new oil refinery and gas pipeline building projects being pursued by the West African nation, it said.

SK Energy Co. and state-run Korea Gas Corp. have expressed interest in the two projects.

In Angola, the delegation discussed the possible purchase of LNG from a refinery that is expected to go on-line in 2012. Resource-poor South Korea is one of the largest importers of the fossil fuel resource in the world and has sought to diversify its imports to better insulate it from sudden price fluctuations.

The southwest African nation also said that it will welcome South Korean companies taking part in oil exploration efforts off its coast.