Petroleum Africa
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Monday, August 30, 2004
Pan-Ocean Energy announced that its total production has now exceeded 10,000 bpd in Gabon. The recently completed offshore well, ET-5H, has been stabilized at approximately 6,500 bpd. The company has also successfully restarted its onshore Obangue well, NZOB- 2aH with gas lift at approximately 400 bpd.
ET-5H, the fourth offshore well in the Etame Field was brought onstream on August 23 at an initial rate of 6,400 bpd through a 48/64" choke and has stabilized at approximately 6,500 bpd. Subject to the results of this initial flow period, the Etame partners plan to increase the production of the well and expect rates in excess of 7,500 bpd. At current production levels, this is expected to bring total Etame production to over 22,500 bpd.
Following an Etame partner meeting, PanOcean is proceeding with its partners in the permit to prepare an integrated development plan for the Etame Permit. The plan will incorporate further development of the main Etame Field, the Ebouri discovery to the north of the main field, and the recently announced Avouma discovery to the south of the main field.
PanOcean owns a 31.36% working interest the Etame Field, with the other partners VAALCO Energy, Inc. (28.07% and operator), Sasol (27.75%), Sojitz Etame Limited (2.98%), PetroEnergy Resources Corp. (2.34%), and Tullow Oil plc (7.5%).
PanOcean also announced that the AWOKOU-1, the first exploration well on the Shell-operated Awoun permit, spudded on August 19. The partners on the well expect it to reach total depth by early September and are targeting the Gamba and Upper Dentale sandstones. AWOKOU-1 is the first of two commitment exploration wells on the Awoun Permit.
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