Akasa Well Sings for Kosmos Offshore Ghana

- Akasa Well Sings for Kosmos Offshore Ghana

Wednesday, August 24, 2011
Kosmos Energy Ltd.
by SubseaIQ

Kosmos announced a light oil discovery at the Akasa-1 exploration well on the West Cape Three Points Block offshore the Republic of Ghana. Full analysis of well results, including wireline logs, reservoir pressures and fluid samples, confirms that the well penetrated 33 meters (108 feet) of oil-bearing pay in four good-quality Turonian–aged sand packages. The Turonian reservoirs encountered are similar in age to those discovered at Jubilee and Mahogany East. Oil samples recovered from the Akasa-1 well indicate 38 degrees API gravity.

Paul Dailly, Senior Vice President of Exploration, commented, "The Akasa discovery is a great result for Kosmos Energy, and it continues our high exploration success rate offshore Ghana. With this find, we have enhanced our inventory of discovered resources, further supporting the appraisal and development programs in the Mahogany East and Teak areas."

Brian Maxted, President and CEO, added, "We are very pleased with the new oil discovery at Akasa. The Company's development portfolio, including ramping production at Jubilee, is well-defined and substantial, and our continued drilling success highlights the value of our exploration portfolio. We are focused on accelerating first production from these projects, as well as from our discoveries on the adjacent Deepwater Tano Block."

The Atwood Hunter rig drilled the Akasa-1 well to a total depth of 3,918 meters (12,854 feet) in 1,158 meters (3,798 feet) of water. The drilling rig will be released to another operator following final operations at Akasa-1. The Company and its partners' near-term drilling plans include the Cedrela exploration prospect, which is currently under Force Majeure discussions, and two appraisal wells at the Teak discovery on the West Cape Three Points Block. In addition, the Company and its partners plan to drill at least two appraisal wells at the Enyenra field on the adjacent Deepwater Tano Block offshore Ghana.

The Company also announced successful flow test rates at the Tweneboa discovery on the Deepwater Tano Block. At Tweneboa-4, the flow test resulted in sustained rates of approximately 3,500 barrels of condensate per day and 30 million cubic feet of natural gas per day. A drill stem test at the Tweneboa-2 well achieved flow rates of 6,500 barrels of oil per day and 5 million cubic feet of natural gas per day. The data from these tests is being used to optimize development plans for the Tweneboa/Enyenra complex.

West Cape Three Points Block Ownership Interest

Kosmos Energy is the operator of the West Cape Three Points Block with a 30.875% interest. Anadarko Petroleum Corporation has a 30.875% interest, Tullow Oil plc has a 26.396% interest, Sabre Oil & Gas Holdings Limited has a 1.854% interest; and the Ghana National Petroleum Corporation has a 10% carried interest.

Deepwater Tano Block Ownership Interest

Kosmos Energy holds an 18% interest in the Deepwater Tano Block. Tullow Oil plc is the operator with a 49.95% interest. Anadarko Petroleum Corporation has an 18% interest, Sabre Oil & Gas Holdings Limited has a 4.05% interest, and the Ghana National Petroleum Corporation has a 10% carried interest.

Oil & Gas Post

Promote Your Page Too
LINK

Eni Hits Hydrocarbon Pay Offshore Ghana

- Eni Hits Hydrocarbon Pay Offshore Ghana

Thursday, July 28, 2011
Eni S.p.A.

Eni has made a new hydrocarbon discovery offshore Ghana through the Gye Nyame 1 well, which is located in the OCTP block 50 km off the Ghanaian shoreline.

The well, which was drilled in 519 meters of water, was drilled to a total depth of 3,349 meters and encountered significant thickness of gas and condensate sands with excellent reservoir characteristics. Oil mineralization was also discovered in the underlying sands. Its significant potential will be further assessed through a delineation program.

The discovery is located 16 km east of the Sankofa gas discovery, and confirms the important role of this block in the development of non-associated gas resources in Ghana.

Eni has already begun talks with the Ministry of Energy and the partner organization, GNPC (Ghana National Petroleum Corporation), aimed at fast-tracking the development of Sankofa which will contribute to the valorization of the gas on the domestic market, thus contributing to the ambitious growth targets of the country.

Thanks to the discovery of Gye Nyame, Eni can now also study important development and production synergies. By consolidating gas volumes of the two discoveries, this development opens up opportunities for exploiting the international market for liquefied gas, through offshore facilities of which Eni has significant knowledge and appropriate technology.

Eni, through its subsidiary Eni Ghana Exploration and Production Limited, is the operator of the OCTP license with a 47.22% interest. Other partners are Vitol Upstream Ghana Limited, with a 37.78% stake, and state company GNPC with a 15% stake. GNPC has a back-in option for an additional 5% of the license.

Eni is also finalizing the farm in to the Keta block as operator with a 35% stake. The block is located offshore the eastern coast of Ghana, bordering Togalese waters, where Eni acquired two exploration licenses in 2010. Partners in the Keta Block Joint Venture are Afren Energy Ghana Ltd., wholly owned subsidiary of Afren plc, with a 35% stake, Mitsui E&P Ghana Keta Ltd. with 20% and GNPC with 10%.

Eni has been present in Sub-Saharan Africa since the early 1960s and is currently operating in Angola, Nigeria, Togo, Ghana, Republic of Congo, Gabon, Democratic Republic of Congo and Mozambique. Eni's operated production in the area is around 450,000 barrels of oil equivalent per day.

Oil & Gas Post

Promote Your Page Too
LINK

Transocean: Rig Off Ghana Remains Stable after Taking On Water

- Transocean: Rig Off Ghana Remains Stable after Taking On Water

Friday, July 08, 2011
Dow Jones Newswires
HOUSTON
by Ryan Dezember

Transocean said Thursday that the deep-water drilling rig off Ghana that was evacuated Wednesday after it took on water remains stable.

The company is working on unmooring the Transocean Marianas, which is anchored some 46 miles offshore, and plans to tow it to sheltered water to inspect damage, spokesman Guy Cantwell said.

It will likely be at least a week before a full damage assessment can be made, Cantwell said.

There have been no injuries and a skeleton crew remain aboard the vessel, Cantwell said. And because the rig was not drilling when it began taking on water, there is no risk of an oil spill.

Transocean owned the Deepwater Horizon, which exploded last year while drilling a well for BP in the Gulf of Mexico, killing 11 and touching off the worst offshore oil spill in U.S. history. Since then Transocean has faced scrutiny over its safety procedures and maintenance of the world's largest offshore drilling fleet.

More than 100 workers were evacuated from the Marianas on Wednesday when it was discovered to have taken on water. A semisubmersible rig, the Marianas floats on large ballast tanks, or pontoons, which are filled with water for stability during drilling and emptied to ease transport. It was built in 1976 and upgraded to drill in depths up to 7,000 feet in 1998.

The rig had been drilling for ENI and was in the process of being moved to drill an exploration well for Kosmos Energy and partners that include Anadarko, Tullow Oil and Ghana's national oil company.

The Marianas was expected to arrive on site next week and Kosmos on Thursday asked Ghana for more time to begin drilling the prospect while it searches for a new rig.

The loss of income from the Marianas, which earned $450,000 a day on its contract with ENI, will likely trim Transocean's earnings by 15 cents per share this year, analysts with Tudor, Pickering, Holt & Co. said in a client note.

"As of now we are assuming rig does not work for rest of 2011," the Houston-based analysts said.

Copyright (c) 2011 Dow Jones & Company, Inc.

Oil & Gas Post

Promote Your Page Too
LINK

Kosmos to Drill Additional Well Offshore Ghana

- Kosmos to Drill Additional Well Offshore Ghana

Tuesday, July 05, 2011
Kosmos Energy Ltd.

Kosmos provided an update on the company's operations in Ghana, Cameroon and Morocco.

Ghana

Kosmos will drill an additional well as part of its 2011 exploration campaign offshore the Republic of Ghana on the West Cape Three Points Block. The company has secured additional rig capacity on the Transocean Marianas semi-submersible rig to drill the Cedrela-1 well west of the Makore prospect near the block's southern boundary. The well will target multiple objectives that the company previously has encountered on the block and is located nine kilometers (km) (six miles) north of the Paradise-1 discovery well recently announced by Hess. Kosmos anticipates that the well will be spudded in the third quarter of 2011.

The Atwood Hunter semi-submersible rig currently is drilling the Makore-1 exploration well in the southern portion of the West Cape Three Points Block. The Makore-1 well is targeting Upper Cretaceous Turonian-age reservoirs similar to those encountered in Kosmos' Jubilee oil field. The Atwood Hunter will remain on the West Cape Three Points Block to drill the Akasa-1 well, formerly known as the Dahoma Up-dip prospect.

The drilling of the Cedrela-1 well will bring Kosmos' 2011 capital spending budget for Ghana to $430 million, $260 million of which will be spent on exploration and appraisal drilling.

Kosmos is the operator of the West Cape Three Points Block in which the company holds a 30.875% interest. An affiliate of Anadarko Petroleum Corporation has a 30.875% interest; an affiliate of Tullow Oil plc has a 22.896% interest; E.O. Group Limited has a 3.5% interest; Sabre Oil & Gas Holdings Limited has a 1.854% interest; and Ghana National Petroleum Corporation has a 10% carried interest.

Cameroon

Kosmos reports that the company's N'gata-1 exploration well, recently drilled onshore Cameroon on the Kombe-N'sepe Block, encountered multiple reservoirs containing subcommercial quantities of natural gas. The results of drilling, wireline logs and reservoir fluid samples show the N'gata-1 well penetrated 44 meters (144 feet) of reservoir with 10 meters (33 feet) of net gas-bearing pay. An additional deeper thick sand interval with gas shows was encountered, but complete wireline logs were unable to be obtained over this target due to operational difficulties. The well has been plugged and abandoned. Kosmos has now completed its initial drilling program commitment on the Kombe-N'sepe Block. This program has demonstrated viable reservoirs and a working hydrocarbon system. Future technical evaluation will focus on identifying these play elements in areas of the block where liquid content and trap effectiveness may improve.

Kosmos Energy holds a 35% interest in the Kombe-N'sepe Block. Perenco operates the block with a 40% interest, and Société Nationale des Hydrocarbures (SNH) has a 25% interest in the block.

Morocco

Kosmos has entered into a petroleum agreement with the Office National des Hydrocarbures et des Mines (ONHYM), the national oil company of Morocco, covering the Foum Assaka area offshore the Kingdom of Morocco. The agreement will become effective upon publication of a ministerial order in accordance with Moroccan law. The Foum Assaka area, which covers approximately 6,500 square kilometers (1,606,179 acres), is located in the Atlantic Ocean's Agadir Basin about 43 kilometers (27 miles) west of the port city of Agadir and contains play elements similar to those seen in Kosmos' other West African acreage. Kosmos will be block operator and will have a 37.5% participating interest in the agreement. ONHYM will have a 25% interest that will be carried through the exploration phase, and Pathfinder Hydrocarbon Ventures Limited will hold the remaining 37.5% participating interest.

Oil & Gas Post

Promote Your Page Too
LINK

Rise of Oil Brings A Visit from Ghana

- Rise of Oil Brings A Visit from Ghana

Tuesday, June 14, 2011
Houston Chronicle
by Jenalia Moreno

Ghana has long relied on its exports of cocoa and gold.

But oil is becoming much more important to its economy since production began last year at Ghana's offshore Jubilee field.

The emerging Ghanaian oil industry brought the nation's vice president, John Dramani Mahama, to Houston this week for meetings with energy companies to encourage investment in the western African nation.

"With this trip, we're going to build a partnership between Ghana and Texas," he said during a news conference Monday at the Greater Houston Partnership.

Total annual trade between Houston and Ghana rose to $244 million in 2010 from $159 million in 2009, according to the partnership.

Since the Jubilee discovery a few years ago, several foreign energy companies have set up operations in Ghana. But the region's offshore geology makes exploration challenging.

"Drilling on the west coast of Africa is very tricky business," Mahama said.

Many of the companies working in Ghana are from developing nations, he said.

"Their businessmen are crawling over Africa and looking for opportunities," he said.

His delegation also visited the Port of Houston, and at the news conference Mahama discussed his nation's transportation needs .

Ghana must upgrade its rail lines and roads to make it easier to move products through Africa, he said.

Partnership officials said they are pushing for a nonstop flight from Houston to Ghana's capital of Accra. United Airlines plans to start flying between Houston and Lagos, Nigeria, later this year.

Copyright (c) 2011, Houston Chronicle

Oil & Gas Post

Promote Your Page Too

Paradise Well Sings for Hess Offshore Ghana

- Paradise Well Sings for Hess Offshore Ghana

Tuesday, June 07, 2011
Hess Corp.

Hess has filed a Notice of Discovery with the Minister for Energy of Ghana for the Paradise-1 exploration well in the Deepwater Tano / Cape Three Points license, offshore Ghana. The well encountered an estimated 490 net feet of oil and gas condensate pay over three separate intervals.

The well was drilled to a total depth of 16,436 feet in a water depth of 6,038 feet. Hess is the operator and has a 90 percent interest in the license, with Ghana National Petroleum Corporation (GNPC) holding the remaining 10 percent.

Hess will evaluate the well results and work with GNPC and the government of Ghana to plan future appraisal drilling.

Oil & Gas Post

Promote Your Page Too

Banda Well Sings for Kosmos Offshore Ghana

- Banda Well Sings for Kosmos Offshore Ghana

Monday, June 06, 2011
Kosmos Energy Ltd.

Kosmos announced that the company's Banda-1 exploration well has discovered oil offshore the Republic of Ghana on the West Cape Three Points Block. The results of drilling, wireline logs and reservoir fluid samples show the Banda-1 well penetrated net oil-bearing pay of 3 meters (10 feet). Oil samples recovered from the Cenomanian-age reservoir indicate oil of approximately 40 degrees API gravity.

The Banda-1 discovery opens a new play fairway not previously encountered on the West Cape Three Points Block or adjacent Deepwater Tano Block. The Paradise-1 exploration well, recently drilled by Hess, successfully penetrated a hydrocarbon-bearing, equivalent-age reservoir. The Paradise-1 well is located 32 kilometers (km) (20 miles) southwest of the Banda-1 well location. The Banda-1 well also was designed to test the Upper Campanian interval, which was water bearing. Additional technical evaluation will be required to analyze the impact and extent of this new play discovery, which is deeper than existing Campanian and Turonian discoveries on Kosmos' Ghana blocks.

The Atwood Hunter semi-submersible rig drilled the Banda-1 well in a water depth of 921 meters (3,021 feet) to a total depth of 4,580 meters (15,022 feet) in the eastern portion of the West Cape Three Points Block. The well is located 28 km (17 miles) east of Kosmos' Mahogany-1 exploration well that discovered the Jubilee oil field in 2007.

West Cape Three Points Block Ownership Interest

Kosmos Energy is the operator of the West Cape Three Points Block in which the company holds a 30.875% interest. An affiliate of Anadarko Petroleum Corporation has a 30.875% interest; an affiliate of Tullow Oil plc has a 22.896% interest; E.O. Group Limited has a 3.5% interest; Sabre Oil & Gas Holdings Limited has a 1.854% interest; and Ghana National Petroleum Corporation has a 10% carried interest.

Oil & Gas Post

Promote Your Page Too

Tullow Lists Shares on Ghana Stock Exchange

- Tullow Lists Shares on Ghana Stock Exchange

Tuesday, May 31, 2011
Tullow Oil plc

Tullow announced its plans for a secondary listing of its shares on the Ghana Stock Exchange (GSE) and an offering of 4,000,000 Tullow shares in Ghana.

The offer of Tullow shares on the GSE will give everyone in Ghana the opportunity to apply for shares in Tullow and to share in the future performance of Tullow's operations across its global portfolio of assets. This listing and share offer further demonstrates Tullow's long-term commitment to Ghana.

The share price for the offer will be announced on Monday, June 13, 2011. Shares can be applied for between June 13, 2011 and July 4, 2011 through Tullow's sponsoring broker, IC Securities (Ghana) Limited or visiting any branch of Standard Chartered or Agricultural Development Bank in Ghana or the office of any of the authorized receiving agents.

Tullow expects to publish a prospectus which further describes the secondary listing and share offer under Ghanaian law on 13 June 2011. Any decision to invest in shares which form part of the offer should only be made on the basis of information set out in that prospectus.

Commenting, Aidan Heavey, Chief Executive, said, "Tullow is fortunate to have played a pivotal role in delivering First Oil from the word-class Jubilee field, offshore Ghana. We would like everyone in Ghana to have the opportunity to invest in the future performance of Tullow, especially as we embark upon further exciting exploration and development activities in Ghana and across our global portfolio. With the support of the Ghana Stock Exchange, the Securities and Exchange Commission and Ghanaian advisers and banks, we are making our shares accessible to anyone in Ghana who wishes to take part in the share offer."

Oil & Gas Post

Promote Your Page Too

Tullow to Buy EO Group's Interests Offshore Ghana

- Tullow to Buy EO Group's Interests Offshore Ghana

Thursday, May 26, 2011
Tullow Oil plc

Tullow has entered into a conditional agreement to acquire the interests of EO Group Limited (EO), consisting of its entire interests offshore Ghana, for a combined share and cash consideration of $305 million.

This acquisition will increase Tullow's interest in the West Cape Three Points license offshore Ghana by 3.5% to 26.4% and increase the Group's interest in the world-class Jubilee Oil field, which Tullow Operates, by 1.75% to 36.5%.

Tullow will issue 10,137,196 ordinary shares of 10p each in the share capital of the Company to EO to satisfy approximately $216 million of the consideration. The balance, which will include certain working capital adjustments, will be paid in cash. The number of shares has been determined using an average of the closing share prices and exchange rates for the five business days up to and including May 24, 2011. The receipt of Tullow shares as part of the consideration gives EO the opportunity to retain an indirect interest in the upside potential of all of Tullow's Ghanaian assets.

The effective date of the transaction is December 1, 2010. The agreement is conditional on the receipt of various consents, approvals and assurances, including from the Government of Ghana.

Upon completion of the agreement, application will be made to the UK Listing Authority and the Irish Stock Exchange for the Shares to be admitted to the official list of the UK Listing Authority and the official list of the Irish Stock Exchange and application will be made to the London Stock Exchange and the Irish Stock Exchange for the Shares to be admitted to trading on their respective main markets.

Aidan Heavey, Tullow's Chief Executive, commented, "This acquisition represents an excellent opportunity to extend our interest in these high-quality assets in Ghana. Following our exploration and production successes over the last few years, which culminated in First Oil in late 2010, this purchase further demonstrates Tullow's long-term commitment to Ghana and our belief in its significant remaining potential."

Oil & Gas Post

Promote Your Page Too

Expro Opens New Facility in Ghana

Expro Opens New Facility in Ghana

Friday, April 22, 2011
Expro International Group

Expro has officially opened its new custom-built facility in Ghana, West Africa.

Expro has made a significant financial investment to create a world-class base for its experienced team in Ghana, highlighting its commitment to the area and demonstrating a determination to meet the needs of the market.

Expro currently operates in Takoradi with teams working on the Tullow Oil Jubilee contract, supplying deepwater electro-hydraulic subsea services, well testing and a range of other services. Expro has been involved with Tullow in Ghana from the exploration & appraisal phase of Jubilee through to the fast-track development phase.

The new site allows all project activity, including deepwater subsea tools, well testing, clean-up, sampling and PVT (pressure, volume, temperature) services, to be coordinated and monitored from a fully integrated facility. The bespoke 8,000m2 facility, which houses extensive workshop and office space, has been developed around 'modular concepts' which provide efficient work areas and can expand with greater ease, as future operations in the region dictate. This impressive site has also been designed with minimizing the potential impact on the environment in mind.

West Africa has been a major focus for Expro in recent years with a number of significant contracts secured. Almost 700 people are currently working across Expro's Southern & West Africa region, and the company is continuing to invest in people, technology and infrastructure to position itself for growth opportunities.

SWA Region Director Brett Lestrange commented, "Having a permanent operational base in Ghana will ensure we can offer the most efficient and effective service, as well as continuing to develop our presence in the challenging subsea deepwater environments. The Jubilee contract is an important part of our future plans in the region, and Expro's capabilities in all aspects of well flow management mean we are well positioned as Ghana develops through 2011 and beyond."

Recruiting and developing a local workforce plays an important part in Expro's business in Ghana, with the company taking pride in its approach to continuing to develop a nationalized workforce. The new operational base incorporates training facilities to ensure the workforce receive the training they need to benefit them personally as well as benefiting the business.

Mr. Lestrange said, "We have high expectations for the new facility. Its opening, combined with the expertise of our people and our latest technology developments, will allow us to continue to deliver to the highest standards for our customers at this exciting period for the region."

Eni Boosts Gas Estimates at Sankofa Discovery Offshore Ghana

Eni Boosts Gas Estimates at Sankofa Discovery Offshore Ghana

Tuesday, April 12, 2011
Eni S.p.A

Eni announced the successful appraisal and testing of the Sankofa discovery in the Offshore Cape Three Points (OCTP) license, offshore Ghana.

The Sankofa-2 well was drilled in 864 meters water depth at a distance of about 55 km from the coast and successfully appraised the Sankofa discovery. The well was tested and delivered a (constrained) rate of approximately 29,5 mmscfd of high quality gas and 1000 boepd of 52° API condensate. The appraisal well confirmed the presence of 35m net gas and condensate sands of the Cretaceous age with excellent reservoir characteristics. A six meter oil leg, which will be the object of further studies, was also encountered.

Initial evaluations indicate that the appraisal well has significantly increased the preliminary estimate of gas in place at the discovery, confirming Sankofa's potential to become the first development of non-associated gas from the Ghana offshore.

The Sankofa well results provide evidence of the success of the exploration activities carried out by the Eni-led consortium, in full compliance with safety and environmental protection standards.

Eni Ghana Exploration and Production Limited is the operator of the OCTP license with a 47.22% interest, Vitol Upstream Ghana Limited 37.78% and state company Ghana National Petroleum Corporation GNPC (15.00%). GNPC will have a back in option for an additional 5%.

Eni continues to work with its partners and the Republic of Ghana to advance its exploration and appraisal programs, as well as contribute to the development of a gas infrastructure in the country.

Eni has been present in Sub-Saharan Africa since the early 1960s and is currently operating in Angola, Nigeria, Togo, Ghana, Republic of Congo, Gabon and Mozambique. Eni's operated production in the area is around 450,000 barrels of oil equivalent per day.

Kosmos Hits Paydirt Offshore Ghana

Kosmos Hits Paydirt Offshore Ghana

Monday, March 28, 2011
Anadarko Petroleum Corp.
by  SubseaIQ

Anadarko announced a deepwater discovery at the Teak-2 prospect, located in the West Cape Three Points Block offshore Ghana. The Teak-2 exploration well encountered approximately 90 net feet of high-quality oil, condensate and natural gas pay in stacked
Campanian- and Turonian-age reservoirs.

"The Teak-2 discovery is another confirmation of our geologic model that adds to the substantial resource potential of the area and
extends the success of our multi-well exploration program on the West Cape Three Points Block," said Bob Daniels, Anadarko Sr. Vice
President, Worldwide Exploration. "We are very pleased with the results encountered in this discovery, which will be further evaluated with future appraisal activity. We continue to work with our partners and the Republic of Ghana to advance our exploration and appraisal programs, as well as the increasing number of development opportunities in both the West Cape Three Points Block and adjacent Deepwater Tano License."

The Teak-2 well was drilled using the Atwood Hunter rig to a total depth of 11,185 feet in water depths of approximately 2,900 feet. The well is approximately 5,900 feet southwest and fault separated from Teak-1, and approximately two miles northeast of the Mahogany-2 well. After preserving the well at Teak-2 for future use, the partnership plans to mobilize the rig to drill the Banda prospect, also located in the West Cape Three Points Block.

Anadarko owns a 30.875-percent working interest in the West Cape Three Points Block, which is operated by Kosmos Energy (30.875-percent working interest). Other co-owners in the block include Tullow Oil plc (22.896-percent working interest), the E.O. Group (3.5-percent working interest), Sabre Oil & Gas Holdings Ltd (1.854-percent working interest) and the Ghana National Petroleum Corporation (10-percent carried interest).