Gabon drilling plan at Oil India/IndianOil

Vol 19, PW 15 (07 Apr 16) News in Brief

With a population of just 1.5m and an oil-dominated economy, it's no surprise operator Oil India (50%) and partner IndianOil (50%) are upbeat about their Shakthi block in Gabon, one of the most politically stable countries in sub-saharan Africa.

PETROWATCH learns the two companies are gearing up to drill one exploration and one appraisal well at the 3761-sq km block after January 2017 when the three-year Phase-II begins. "We're analysing data to select the best locations," confirms an IndianOil source.

Helping them will be 1200-lkm shot by Chinese contractor Sinopec and 1300-lkm vintage 2D (Total: 2500-lkm) processed and interpreted by Geofyzika Torun in a Rs486cr ($73.05m) contract won on August 28, 2015 with a February 23, 2017 completion deadline. In July 2013 Oil India tasted first success at Shakhti when its third exploration well Lassa#1 flowed 220 b/d and 4330 cm/d.

Two appraisal wells have been drilled since. Located near the prolific producing Remboue field, Oil India believes the Shakhti block holds 44m barrels of oil in-place.