Ebok
Ebok
|
|
Working Interest
|
50%* |
Production Start-up
|
2010 |
Production Peak
|
35 kbopd |
| Local Partner |
Oriental |
| Work Programme |
Development |
* Share of Profit Oil after cost recovery
Ebok (OML 67)
Background
The Ebok Field (Ebok) was awarded to Oriental (a 100 per cent. operated interest) in May 2007 by the ExxonMobil / Nigerian National Petroleum Corporation (NNPC) Joint Venture. The farm-out has been structured such that the field benefits from the Nigerian Marginal Field Fiscal and Tax Regime.
Ebok is an undeveloped oil field located in OML 67, 50 km offshore in 135 ft of water in Nigeria's prolific south eastern producing area. The field was discovered by the ExxonMobil / NNPC JV in 1968 (M-QQ1 (Ebok-1)), and two subsequent appraisal wells were drilled in 1970 (Ebok-2 and Ebok-3). A total of 271 ft. (83m) of net oil pay was encountered in Ebok-1 in four sands between 2,600 ft. (800m) and 3,600 ft. (1,100m); none of the zones were production tested although 24 degree API oil was recovered from the Ebok- 1 well.
The Ebok area is covered with good quality (1992) 3D seismic data and an extensive data set is available for the three drilled wells. Ebok is also located close to several producing ExxonMobil / NNPC JV fields and 55 km south-east of ExxonMobil’s onshore QIT Terminal. The estimated STOIIP on the field (pre Q4 2008 appraisal drilling) was 77 -167 mmbbls with a mean of 118 mmbbls.
Terms
In March 2008, Afren signed a Farm-In Agreement with Oriental to participate in the development of Ebok. Under the terms of the agreement, Afren will be responsible for funding all capital and operating costs for the development of the field, and will recover the costs from 100% of net field revenues. Following cost recovery, the ExxonMobil JV will receive a Net Profit Interest, with Afren and Oriental sharing net revenues equally.
Further to the Ebok farm in, Afren has entered into a collaboration agreement with Oriental to pursue other potential development assets in the region.
Operations Update
The successful appraisal of the Ebok field completed in early 2009 proved 2P reserves of 53 mmbbls (in excess of pre-drill minimum economic field size of 20 mmbbls). Afren subsequently identified a further 99 mmbbls of additional upside potential increasing the total resource potential of Ebok to 152 mmbbls.
Field Development
Afren and its indigenous partner Oriental signed a rig contract with Transocean for the Adriatic IX jack-up drilling rig in September 2009 and have commenced Field Development Phase 1a with the spudding of the Ebok-5 appraisal well, a total of 2 appraisal wells and 6 horizontal production wells are scheduled to be drilled in development Phase 1a. Development Phase 1b, targeting the upside in the D2 Southern Lobe, will be subsequently undertaken, comprising a further three horizontal production wells and one water injection well drilled from the existing wellhead support structure.
Following completion of development Phases 1a and 1b (which is set to deliver production of 15,000 bopd in H1 2010, increasing to 35,000 bopd by end 2010), development Phase 2a will be launched, incorporating full development of the D1 reservoir and Fault Block West, whilst appraising the potential within the West Flank Qua Iboe structure (150 mmbbls STOIIP, estimated 45 mmbbls recoverable) and Fault Block North (30 mmbbls STOIIP, estimated 9 mmbbls recoverable).