A unit of Mobil Corp. has drilled two discoveries off Nigeria with an expected reserve potential of about 450 million bbl.
The strikes are 1 Yoho on Oil Prospecting License 94 and 1 Omon on Oil Mining Lease 70.
The Yoho discovery cut 346 ft of net pay and flowed 8,400 b/d of 38 gravity oil. The Omon discovery, with 646 ft of net pay, flowed 7,500 b/d of 44 gravity oil.
Mobil Producing Nigeria Unlimited drilled the wells in a 60-40 partnership with Nigerian National Petroleum Corp.
Mobil Corp. Chairman Allen E. Murray disclosed the strikes while in Nigeria to commission the 250,000 b/d Edop production platform, lay the cornerstone for the Oso condensate project, and open the new Qua Iboe Terminal Road to Mobil's base.
Murray also was scheduled to open Mobil's new office complex at Maroko in Lagos. Construction of the $33 million complex began in 1988.
The offshore Edop field, discovered in 1981 about 30 miles south of Qua Iboe terminal, is one of the largest oil fields in Nigeria with an estimated 680 millon bbl of remaining reserves.
The field, which went on stream in 1987, has six wells producing at a combined rate of 50,000 b/d. Production flows through 30 miles of 24 in. pipeline to the Qua Iboe terminal.
When complete, the $600 million Edop project will include 42 wells, seven well platforms, and the production platform, which is scheduled to increase oil flow to 165,000 b/d.
Oso condensate field, discovered in 1967, holds about 500 million bbl of recoverable reserves. Located in 50 feet of water 35 miles southwest of the Qua Iboe terminal, Oso field when fully developed by late 1992 will produce 100,000 b/d of condensate. Associated gas will be reinjected for possible production later.
Total project cost is estimated at $900 million.
Financing arrangements for the Oso project were completed last April. About 35% comes from equity, while the remaining 65% comes from World Bank, International Finance Corp., export credit agencies of Japan and the U.S., European investment Bank, and several commercial banks.
Mobil Producing Nigeria has a productive capacity of 320,000 b/d of oil. With projects under development, that volume is expected to rise to 525,000 b/d by 1995.
Copyright 1991 Oil & Gas Journal. All Rights Reserved.
