Discovery off Ivory Coast confirms Acajou area oil potential

May 8, 2003
Canadian Natural Resources Ltd. (CNR), Calgary, has discovered oil on the Acajou South prospect 24 km off Ivory Coast. The Acajou-1x well on License CI-26 was drilled in 3,050 ft of water 9km southeast of Espoir field facilities.

By OGJ editors

HOUSTON, May 7 -- Canadian Natural Resources Ltd. (CNR), Calgary, has discovered oil on the Acajou South prospect 24 km off Ivory Coast. The Acajou-1x well on License CI-26 was drilled in 3,050 ft of water 9km southeast of Espoir field facilities.

Operator CNR used the Sovereign Explorer rig to drill the well, which reached a total depth of 8,027 ft and encountered a gross oil column of over 250 ft. A 45 ft interval of sands at the top of the oil column flowed on test at a rate averaging 3,500 b/d of 33° oil, similar to that found in Espoir (OGJ Online, Sept. 3, 2002).

"The well also encountered a significant sand section below the oil-water contact, which holds potential in the northern part of the structure," said Brian O'Cathain, managing director of CNR partner Tullow Oil International Ltd., which reported the discovery.

CNR holds a 66.0% interest in Acajou, with Tullow holding 24.0% and Ivory Coast government-affiliated Petroci Exploration Production SA
10.0%.

Espoir field development
Elsewhere on license CI-26, O'Cathain said the partners expect to produce 25,000 b/d from Espoir field by the end of this quarter. Espoir, with estimated reserves of 93 million bbl of oil and 180 bcf of natural gas, has a life expectancy of 20 years.

Well EP-4 has been completed, and the perforation of the upper reservoir in wells EP-1, 2, and 3 is well under way. Espoir production facilities currently comprise an unmanned wellhead platform with oil and gas processed on an FPSO vessel. CNR is developing East Espoir first and will follow with West Espoir development within 2 years.

CNR has a 58.67% equity in Espoir field, with partners, Tullow holding 21.33% and Petroci, 20%.