VAALCO deems Dimba exploration well uneconomic

VAALCO Energy Inc., Houston, reported its exploration well in the Dimba prospect, 7 miles northeast of the Etame field offshore Gabon, has been drilled to a total depth of 3,040 m and estimated recoverable reserves have been determined to be uneconomic.

The well is currently in the process of being plugged and abandoned.

VAALCO said the primary Gamba sandstone objective was encountered high on the structure, but was thinner and tighter than expected in the initial well penetration. The secondary deeper objectives in the Melania and Lucina sections were encountered on structure, but lacked reservoir quality sands and were not tested.

Strong oil shows observed in the sidewall cores at the Gamba interval led to a subsequent sidetrack on the flank of the structure. The sidetrack encountered thicker Gamba reservoir of improved quality, but VAALCO and its partners deemed the reservoir to be too small to be economic.

VAALCO has scheduled the previously reported 6-day shutdown of the Etame Marin block to commence on or around Mar. 15.

The shutdown’s purpose is to upgrade the safety systems and perform maintenance and repairs to key mechanical systems including the gas lift compressor and boiler unit on VAALCO’s leased floating, production, storage, and offloading vessel.

Other maintenance will be performed in the field while the FPSO is down. A second FPSO shutdown is planned during this year’s second half year to upgrade the fire and gas detection systems.

Construction work on the two new production platforms targeting additional development of the Etame Marin block is continuing on schedule, with one platform to be installed in the Etame field and the second platform to be installed between the Southeast Etame and North Tchibala fields. Both platforms are expected to be set in this year’s second half.

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