By OGJ editors
HOUSTON, Feb. 21 -- Pan-Ocean Energy Corp. Ltd., St. Helier, Jersey, UK, has approved a $164 million exploration and development program for 2006 designed to double its 2005 production, which totaled 3.43 million bbl of oil. The company's operations are in Gabon.
Proposed drilling includes 1 offshore and 4 onshore exploration wells, 18 onshore and 2 offshore development wells, a gas injection well, and a water disposal well.
Pan-Ocean will install a central production facility at its onshore Tsiengui oil field and is drilling the first of 15 additional development wells in Tsiengui field (OGJ Online, July 18, 2005).
Pan-Ocean also plans a pump station and a 29 km, 10-in. oil pipeline from the Tsiengui-Obangue-Awoun area to Coucal, expected to be commissioned by July (OGJ Online, Feb. 17, 2005).
Pan-Ocean and its Awoun permit partner, operator Shell Gabon SA, will install a 5,000 b/d early production facility on Koula (OGJ Online, Sept. 8, 2004).
The capex program also includes installation of a production platform at Avouma field on the Etame Marin permit off Gabon and the drilling of two Avouma development wells. Vaalco Energy is operator of Etame Marin (OGJ Online, May 17, 2005).
