|
| |
Providence Announces the Completion of Aje-4 Drilling Offshore Nigeria
04-14-2008
Providence Resources P.l.c., the
Irish oil and gas exploration and development company, announces the completion
of drilling operations on its AJE Field, in OML113, offshore Nigeria.
The AJE-4 well, which was drilled in c. 1,000' water depth using the
drill-ship Transocean Pathfinder, was designed to evaluate the lateral extent of the oil
and gas bearing reservoirs which had been successfully tested in the AJE-1 & 2
wells located some c. 2 km from the AJE-4 location. Drilling operations were
carried out by the Operator, Yinka Folawiyo Petroleum Company Limited in
conjunction with Chevron Nigeria Deepwater H Limited.
As prognosed, the AJE- 4 well encountered Cretaceous aged hydrocarbon bearing
sections, specifically a gas condensate and oil bearing Turonian reservoir with
oil bearing Cenomanian intervals. A comprehensive logging and coring programme
has been completed together with down-hole pressure measurements and hydrocarbon
sampling. The AJE-4 well is currently being suspended.
The partners in the AJE project are Yinka Folawiyo Petroleum Company Limited
(Operator), Chevron Nigeria Deepwater H Limited (Technical Adviser), PR Oil and
Gas Nigeria Ltd., Vitol Exploration Nigeria Limited and Energy Equity Resources
Aje Limited.
Tony O'Reilly, Chief Executive of Providence, said:
"Following on from our recently announced success in the US Gulf of Mexico, we
are delighted with the results from the AJE-4 appraisal drilling programme. The
AJE-4 well results are in line with our pre-drill expectations and have
confirmed our long held view in relation to the prospectivity of OML113.
We look forward to meeting with our partners in the near term to discuss the
well results in the context of the commercial potential of the AJE field. Should
the AJE field progress to development, it will have a significant and material
impact on Providence's proven reserves going forward."
|
