Ophir energy upgrades recoverable resource estimate in Tanzania

7/3/2013

Ophir energy upgrades recoverable resource estimate in Tanzania

BY RORY GALLIVAN

LONDON -- Ophir Energy announced the results of its Ngisi drilling program, Block 4 Tanzania and the upgrade of the recoverable resource across the Chewa-Pweza-Ngisi hub in Block 4 to 4.5 Tcf.

Ophir holds the 40% of Blocks 1, 3 and 4; BG operates with 60%. Gas pay was encountered in the Ngisi prospect within a high net to gross reservoir interval.

The penetrations into the Chewa reservoir also encountered gas pay as prognosed and confirmed widespread, excellent reservoir characteristics. As a result, these wells have increased the mean recoverable resource of the Chewa Pweza Ngisi hub from 3.7 Tcf to 4.5 Tcf, in excess of pre drill expectations, in addition to derisking exploration upside in several nearby targets.

This drilling result has also further demonstrated the feasibility of drilling highly deviated wells which will be incorporated into development planning of the assets.

Deepsea Metro I drillship has now moved to drill the Mkizi-1 exploration well in Block 1. Mkizi is a 0.6 Tcf prospect of Tertiary age, close to the Jodari discovery. Mkizi, appraisal of the Block 4 Pweza discovery is planned.

Dow Jones Newswires

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