Africa Oil & Gas: Otakikpo field seismic shoot underway

otakikpo-field-664x397Partners in the Otakikpo marginal field located in OML 11 in Nigeria have begun shooting a 3D seismic survey on the field.

Green Energy International Limited (GEIL) is the operator of the field with a 60% interest and Lekoil is its financial and technical partner with the remaining 40% interest.

The field is located in both onshore and offshore in the south-eastern part of the Niger Delta.

Sinopec Changjiang Engineering Services has been previously contracted by the two partners to carry out the survey. The deal entails the acquisition of 197 square kilometers of 3D seismic data at the field to update the existing 2D coverage.

Lekoil said on Thursday that the permits were secured and mobilization completed. Line cutting is currently in progress.

The company added that the preparations for seismic recording operations were at an advanced stage. The survey will be completed around June 2018.

Following the completion of this seismic acquisition, the new 3D seismic data will be processed and interpreted and an updated competent person’s report will be released.

Lekan Akinyanmi, Lekoil CEO, said: “The acquisition of 3D seismic data will provide valuable information to unlock further value at Otakikpo. Sinopec has a reputation for high-quality data acquisition, and we are pleased to be working with them.”

Otakikpo currently has an estimated 56.6 mmbls of gross unrisked 2C contingent resources and an additional 163.0 mmbls gross of Stock Tank Oil Initially In Place (STOIIP) upside on a P50, unrisked basis.

The Otakikpo field development plan consists of two phases. Phase One comprises the recompletions of two wells, Otakikpo-002 and Otakikpo-003, with the installation of an early production facility of 10,000 bopd capacity and export via shuttle tanker.

Phase Two covers the subsequent incremental development of the rest of the field with new wells.

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