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Wednesday, March 25, 2015
CAP Energy has received the results of a reassessment of 2D seismic data relating to its two licenses offshore Guinea Bissau. The data was reassessed by Mediterraneao&Petrolio.
Block 5, where CAP holds a 27% stake, the hydrocarbon prospectivity was assessed on the basis of the various seismic surveys and with the availability of all the well information and petrophysical information to enhance the multi-play exploration interpretation.Block 5B has been covered with approximately 1,532 km of 2D seismic in 2011 and 1,500 km in 2013. Vintage 2D seismic of around 1,900 km shot during 1981 to 2000 was also acquired by CAP Energy.
Volumetrics for 21 leads with surface closures bigger than 10 sq km have been calculated, with identified structures located at water depths ranging from 1,000 meters to 3,500 meters and variable target depths from sea bottom 800 meters to 2,650 meters. The aggregate prospective resources of the block are P50 STOOIP value 22,083 million barrels, P10 STOOIP value 34,381 million barrels, P90 STOOIP value 12,439 million barrels.Recoverable values are respectively P50: 7,729 million barrels, P10: 4,354 million barrels, and P90: 12,003 million barrels.
CAP said that the re-interpretation of Block 5B indicates that the block has a strong analogy with theSangomar Deep License in Senegal and the discoveries made by Cairn Energy, the SNE-1 and FAN-1. Two of the interpreted prospects in Block 5B are similar to the two discoveries in Senegal.
Block 1 where CAP holds a 24% stake is covered with 1,530 km of 2D seismic in 2013. Vintage 2D seismic of about 1,300 km acquired through 1981 to 1988 was also available. The hydrocarbon prospectivity was assessed on the basis of the various seismic surveys and with the availability of all the well information and petrophysical information to enhance the multiplay exploration interpretation.
The aggregate prospective resources of the block are P50 STOOIP value 1,100 million barrels, P10 STOOIP value 2,060 million barrels, and P90 STOOIP value 308 million barrels. The recoverable values are respectively P50 275 million barrels, P10 515 million barrels, and P90 77 million barrels.
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