Africa: Equatorial Guinea

AFRICA

Equatorial Guinea

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In just 10 years, oil production has jumped from zero to 215,000 bopd and is still climbing. The government established a new state firm, Petrogesa, which will negotiate better deals for the country with foreign firms. Petrogesa will be responsible for operational and technical issues and will honor all existing PSAs.

At press time, Triton Energy sought another drilling unit to appraise its Oveng and Okume discoveries, and drill two appraisals by year-end. First oil is expected in 2002. The Oveng prospect – Triton’s third find on Block G – yielded 168 ft of net pay in two zones. Okume-1 has probable recoverable reserves of up to 250 million bbl and encountered 200 ft of net pay in one pool.

CMS Energy’s Alba 9 hit 732 ft of net pay offshore, and flowed 37.5 MMcfgd and 2,400 bcpd. Together with test results from Alba 8 and reservoir data, this more than doubled the field’s proven and probable reserves to 300 MMbbl of oil and 4.6 Tcfg.

Table: Significant African discoveries, July 2000 to July 2001

Offshore Equatorial Guinea, Triton Energy struck the Okume and Oveng oil discoveries in June 2001. Nearby, the company also continues to develop Ceiba field. (Photo courtesy of Triton Energy)

Three development wells found more oil offshore at Ceiba field, after Triton resumed drilling following several dry holes. This second-phase program will double production of 50,000 bopd.