Famfa, Texaco make deepwater oil find off Nigerian

Famfa Oil Ltd., Texaco Inc., and Braspetro, the international arm of Petroleo Brasileiro SA, Tuesday reported preliminary results of a wildcat drilled on OPL Block 216, 70 miles off Nigeria in the deep water of the central Niger Delta. The Ikija-1 well encountered 240 ft of net oil and natural gas pay in multiple zones.


Famfa Oil Ltd., Texaco Inc., and Braspetro, the international arm of Petroleo Brasileiro SA, Tuesday reported preliminary results of a wildcat drilled on OPL Block 216, 70 miles off Nigeria in the deep water of the central Niger Delta.

The Ikija-1 well tested an independent structure 13 miles southwest of the companies' previously announced Agbami discovery. The well encountered 240 ft of net oil and natural gas pay in multiple zones between 11,000 ft and 15,750 ft. The results will be incorporated into further geological and engineering studies to determine Ikija's commercial potential, the companies said.

The well was spudded Jan. 7 in 6,066 ft of water. It reached 17,565 ft TD May 7, when drilling was suspended.

Famfa, an independent Nigerian oil company, is the well operator. Texaco's wholly owned subsidiary, Star Deep Water Petroleum Ltd., served as technical advisor.

"The Ikija wildcat continues to advance Texaco's deepwater exploration program in Nigeria," says Dr. Bruce S. Appelbaum, Texaco vice-president. "We are encouraged by the preliminary results of this well, and, while Ikija encompasses a different structure than Agbami, the two are in close proximity, which will be a factor as we continue to evaluate Ikija's commercial potential."

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