ExxonMobil’s newest discovery offshore Nigeria could possibly hold up to 1 billion bbl, the supermajor said today (27 October).
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Image from Exxon. |
Exxon said a “significant discovery” at the Owowo field has the potential recoverable resource of between 500 MMbbl and 1 billion bbl. Owowo spans portions of the contract areas of oil prospecting license 223 (OPL 223) and oil mining license 139 (OML 139).
The supermajor spudded the Owowo-3 well on 23 September, and encountered some 460ft (140m) of oil-bearing sandstone reservoir. Owowo-3 extends the resource discovered by the Owowo-2 well, which encountered about 515ft (157m) of oil-bearing sandstone reservoir.
Owowo-3 was safely drilled to 10,410ft (3173m) in 1890ft (576m) of water.
“We are encouraged by the results and will work with our partners and the government on future development plans,” said Stephen M. Greenlee, president of ExxonMobil Exploration Co.
The well was drilled by ExxonMobil affiliate Esso E&P Nigeria (Deepwater Ventures) Ltd. and proved additional resource in deeper reservoirs.
ExxonMobil is the operator of OPL 223 and OML 139 and hold holds 27% stake. Joint venture partners include Chevron Nigeria Deepwater G (27%), Total E&P Nigeria (18%), Nexen Petroleum Deepwater Nigeria (18%), and the Nigeria Petroleum Development Co. (10%).
