By the OGJ Online Staff
HOUSTON, Feb. 21�PanAfrican Energy Corp. Ltd., St. Helier, Jersey, UK, is expanding its operations in Gabon.
PanAfrican, formerly Ocelot International, signed a concession agreement to reactivate the Rembou�ield. Chauvco Resources Ltd. shut in the field in 1998 due to low oil prices (OGJ, July 27, 1998, Newsletter).
PanAfrican will hold 92% of the concession. Production from the first of 11 shut-in wells will begin in July and peak at 1,800 b/d of oil by mid-2002.
By the end of the month, PanAfrican will commission a 6-in., 17-km, $2.2 million pipeline from its Obangue field to nearby Avocette field, operated by TotalFinaElf SA. PanAfrican had been using river barges to produce 1,000 b/d from Obangue field.
PanAfrican intends to begin a development drilling program at the field later this month, hoping to increase production.
Meanwhile, the company has earned a 32.5% interest in the Etame Marine concession off Gabon by participating in the Etame-3 well. The concession has three known accumulations: Etame, Tchibala North, and Tchibala South.
Etame-3 was suspended at 2,300 m after penetrating 34 m of potential oil column in the Gama and Dentale formations. Operator Vaalco Energy Inc. and partners are considering development options for the fields.
While Etame-3 was not flow tested, Vaalco predicts the well will flow more than the 3,500 b/d tested at discovery well Etame-1.
Pan African said Etame could come in stream within 18 months, possibly using a floating production system. Partners are Vaalco Energy, PanAfrican, 32.5%; Sasol, 30%; PetroEnergy Resources Corp., 4.425%; and Alcorn Gold Resources Corp., 2.625%.