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Addax Petroleum Confirms Oil Reservoir at Ofrima Offshore Nigeria

05-03-2008

Appraisal wells at Addax Petroleum's Ofrima North discovery in OML137, offshore Nigeria, have shown enough hydrocarbons for a new standalone oil production to be developed by 2009.

Drilling of the Ofrima-3 and Ofrima-3A wells confirmed, within the main fault block, the western continuity of the H42 oil reservoir and a common oil water contact with the Ofrima-2 well.

Addax said that although the Ofrima-3 well initially hit water in the H42 reservoir, it was encountered in deeper reservoir intervals than had hitherto been undrilled.

A spokesman said, "The corporation believes that the combination of oil discoveries at Ofrima North are sufficient to provide for a standalone development with an FPSO [floating production storage and offloading vessel] and subsea tiebacks and intend to work closely with relevant Nigerian government agencies on plans for an expeditious development with potential production as early as late 2009."

The Ofrima-3 and Ofrima-3A wells were drilled using Saipem semisubmersible Scarabeo-3 in water depths of approximately 75 metres (246 ft).

Following the Ofrima North appraisal campaign the Scarabeo-3 returned to the Okwori and Nda fields' area to commence the 2008 development drilling campaign on those fields.