By OGJ editors
HOUSTON, May 27 -- Vaalco Energy Inc., Houston, operator of Etame Marin permit off Gabon, has reached TD on the South Avouma satellite EAVSM-1 exploration well, reported partner PanOcean Energy Corp. Ltd.
Logs revealed that no commercial hydrocarbons were encountered in the objective sands. However, the satellite test results will have no material impact on prospects for the Etame Marin permit, PanOcean said.
After completing logging operations, Vaalco will plug and abandon the well. The rig will move to begin drilling the Etame ET-6H development well to increase production at the main Etame field.
Separately, the Etame consortium has issued a letter of intent to Gulf Island Fabricators of Houma, La., to build the platform for Avouma field. After a definitive contract is signed, due shortly, construction will begin.
Onshore Gabon, PanOcean has completed construction of the Tsiengui-to-Obangue pipeline and has begun testing and commissioning the system. It is drilling the second Tsiengui development well, TST-3, and has set 9 5/8-in. casing.
Early production facilities are being completed at Tsiengui and PanOcean expects to submit a full field development plan to the government shortly. The company is finalizing its onshore export pipeline route and has purchased the balance of the pipe required to complete the 26 km project.
PanOcean owns a 31.36% working interest in Etame field. Vaalco holds 28.07%; Sasol, 27.75%; Sojitz Etame Ltd., 2.98%; PetroEnergy Resources Corp., 2.34%; and Tullow Oil PLC, 7.5%.
