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Thursday, March 31, 2016
Harvest Natural Resources and its JV partners on the Dussafu Project in Gabon are continuing to move toward development of the Ruche Exclusive Exploitation Area. A tender for all the subsea equipment was concluded in January 2015 where prices exceeded the costs employed in the field development plan (FDP). Efforts continue to negotiate with the lowest priced vendors and to revise the development scheme to bring the projected cost back to the FDP levels.
The depth volume from the 2013 3D seismic acquisition over the discovered fields and the outboard area of the license has been received and interpreted. This new data was incorporated into the reservoir models and optimization of well trajectories to maximize oil recovery is ongoing. In addition, the prospect inventory was updated and several prospects have been high graded for drilling in H1 2016.
To accommodate the drilling schedule, a site survey, including bathymetry and geophysical data gathering with respect to prospects A/B, 6/7 and 8/9, was completed in August 2015. A tender for a drilling rig for the planned well was completed in November 2015 and a tender for well testing and other services were concluded in January 2016.
Harvest is engaged in a process with the objective to farm down some of its 66.667% working interest in the block and drill an exploration well on a significant prospect identified on 3D seismic with expected multiple pay zones in the Gamba and Dentale formations, which are oil-bearing sands in the four discoveries on the Dussafu block as well as on the adjacent Etame block.
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