Petroleum Africa
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Wednesday, May 28, 2014
Elenlito’s offshore block in Senegal has its oil resource assessment complete. Reprocessed 2D seismic and well data suggests its potential to exceed 1.5 billion barrels of oil (STOIIP). The company said that about half of the resource is in first priority leads associated with shallow-water (12-26 meter) salt domes and deeper-water (1,000-1,500 meter) shelf edge traps.
An Independent Expert Report was prepared by BeicipFranlab over the block’s geology, geophysics, reservoir potential. The report included conceptual development options and cost estimate generated preliminary commercial assessments. Scoping economics along a conceptual development of one of the major salt dome leads is robust with significant upside in the case of success for a major development project including subsequent discoveries.
Elenlito has selected two target areas covering the first priority shallow-water salt dome leads and the deeper-water shelf edge prospects for further exploration. The company plans to begin a 1,400 sq km 3D seismic survey within the next few months.
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