From Nigeria’s Niger Delta to Algeria’s Hassi Messaoud and Hassi R’Mel areas, Africa’s mature oil provinces are in search of to revitalize their mature belongings in a low-carbon future. Concentrating on new methods, applied sciences and finest practices, African Vitality Week: Spend money on African Vitality 2024 in Cape City will function a devoted panel on Africa’s legacy fields, bringing collectively the E&P corporations main near-field exploration and redevelopment actions throughout the continent.
Beneath the theme – Unlocking Hidden Worth: Maximizing Africa’s Mature Fields – the panel will share precious insights into reservoir administration, enhanced oil restoration methods, digital and automation applied sciences, optimization methods and extra to focus on the untapped manufacturing potential inside Africa’s oil and gasoline acreage. Panelists embody Jean-Michel, CEO of Trident Vitality; Armel Simondin, CEO of Perenco; Rahul Dhir, CEO of Tullow Oil; Paul McDade, CEO of Afentra; and George Maxwell, CEO of VAALCO Vitality.
AEW: Spend money on African Vitality is the platform of selection for venture operators, financiers, expertise suppliers and authorities, and has emerged because the official place to signal offers in African power. Go to www.AECWeek.com for extra details about this thrilling occasion.
Africa’s mature oil markets are seeing plenty of unbiased operators drive manufacturing features, prioritizing incremental exploration and modern applied sciences to breathe new life into current belongings. In Gabon, Perenco launched appraisal drilling close to its current Hylia South West discovery in February 2024 to determine extra reservoirs and estimate oil volumes, starting from 20 to 100 million barrels. Spearheading an infrastructure-led exploration (ILX) technique, Tullow Oil is pivoting towards infill drilling to maximise manufacturing from its Gabonese belongings and plans to drill two ILX wells at its Simba license later this yr, in addition to preserve 100,000-barrel-per-day (bpd) output from its Jubilee area by means of infill drilling over the following few years.
Maximizing manufacturing from its mid-life oil and gasoline belongings, Trident Vitality launched a three-well infill drilling marketing campaign on Block G – house to the mature Ceiba and Okume fields – offshore Equatorial Guinea earlier this yr. In the meantime, VAALCO Vitality is main growth of the nation’s Venus Subject in Block P, which includes drilling two producer wells and one water injector properly. This system aligns with the corporate’s plans to double its crude manufacturing of over 50,000 bpd by 2027, in addition to develop its output from maturing fields.
Oil and gasoline unbiased Afentra can also be specializing in optimizing, redeveloping and lengthening the lifespan of Africa’s legacy belongings. In Angola, the corporate not too long ago gained approval for the acquisition of Block 23, specializing in high-quality, long-life shallow water manufacturing belongings with important upside. Afentra is working to maximise manufacturing and reserves, whereas lowering emissions and fostering synergies throughout its belongings by means of an innovation-led method.
The event of marginal fields is one other key manufacturing driver inside Africa’s mature markets. Beneath its deliberate 2024 bid spherical, Nigeria is inserting a robust emphasis on marginal belongings, which supply the potential to spice up effectivity of the sector, convey new sources on-line and diversify the nation’s exploration panorama. Nigeria’s earlier marginal licensing spherical in 2020 featured 57 fields, of which the biggest 25 are anticipated to generate over $9 billion of funding of their first 5 years of operation and over $38 billion in lifetime income. In the meantime, Angola is providing 5 marginal fields for exploration along with 24 different block alternatives. Representing a primary for the nation, the marginal fields are located in operated blocks and maintain confirmed reserves with business potential.
Distributed by APO Group on behalf of African Vitality Chamber.