Petroleum Africa
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Friday, May 8, 2015
Cobalt International Energy (CIE) offered an update on its activities offshore Angola on blocks 20 and 21. On Block 20, the company’s Orca #2 appraisal well and DST results confirmed the presence of a large oil accumulation in the Sag section of the pre-salt. In addition, log and sampling evaluation results have confirmed the discovery of oil in the deeper Synrift reservoir of the pre-salt.
The well was drilled 7 km from the Orca #1 discovery well and is Cobalt’s first appraisal well drilled on its significant 2014 Orca deepwater pre-salt discovery in the Kwanza Basin. Orca is the largest oil discovery found to date in the Kwanza Basin. Cobalt and its partners anticipate more appraisal activities in the future to determine Orca’s development and production potential. Cobalt, as operator, holds a 40% working interest in Orca.
Over on Block 21, Cobalt is currently drilling the Cameia #4 development well. The company plans a continuous development drilling program at Cameia for the remainder of 2015 and early-2016. In conjunction with these ongoing development drilling activities, it continues to focus efforts on the optimization of Cameia facility and subsea infrastructure design and costs to take advantage of favorable market forces attributed to the current downturn in industry activity. Cobalt’s current FPSO design is a nominal 75,000 bpd facility, with a likely production capacity in excess of 80,000 bpd early in the field’s life.
As previously stated, Cobalt believes that Cameia’s project economics remain robust in the current commodity price environment. Cobalt expects to achieve formal project sanction of Cameia by year-end 2015, aligned with its efforts to deliver first production in 2018. Cobalt, as operator, holds a 40% working interest in Cameia.
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