Cove Provides Update of its Operations Offshore Mozambique
Cove Energy plc, the AIM quoted upstream oil and gas company, together with the operator Anadarko Petroleum Corporation, provide an update of the results of the Barquentine-3 appraisal well and consequent gas resource range upgrade in the Rovuma Basin Area 1 block, Offshore Mozambique.
• Thickest Gas Pay To Date
Barquentine-3, the sixth successful well to drill in the now world class Windjammer, Lagosta, Barquentine and Camarão (“WLBC”) gas complex encountered more than 202 net meters (662 net feet) of natural gas pay in two high-quality Oligocene-aged fan systems.
• Significant Estimated Recoverable Resource Increase
Recoverable resource ranges for the WLBC gas complex are now estimated to be 15 to 30+ trillion cubic feet (“TCF”) of recoverable natural gas, with an estimated 30 to 50+ TCF of natural gas in place.
• Expandable LNG (liquefied natural gas) Development
A large-scale LNG development is currently being designed to consist of at least two trains with the flexibility to expand to six trains.
• Two Drilling Rigs Secured
The Deepwater Millennium drillship is being mobilized to commence flow and interference testing and a new 4 year extension for the Belford Dolphin drillship will ensure a continuous appraisal and exploration drilling programme.
• New 3D Seismic
Analysis of the new seismic has identified a growing number of high-potential prospects in other areas in Area 1 Rovuma Offshore.
John Craven, CEO of Cove Energy commented;
“Barquentine-3 encountered outstanding Oligocene gas saturated reservoirs in terms of thickness and rock quality. As a result, the partnership has significantly upgraded the recoverable gas resource range to 15 – 30+ TCF in the Oligocene and Eocene reservoirs of the discovered field area of the WLBC gas complex. The rest of the Area 1 block remains highly prospective and holds over 15+ identified prospects and leads that are significantly de-risked by the successful appraisal drilling campaign and which possess similar age and seismic character traps to existing discoveries. There is also deeper untested potential in existing discoveries.
“Barquentine-3 clearly demonstrates how value can be created by appraisal drilling. Future plans include drilling three further appraisal wells and flow testing, both running parallel to exploration drilling, throughout this prolific block”
Subsea World News Staff , November 28, 2011; Image: Cove Energy