African Oil Corporation: Second offshore oil discovery Guyana
Early this week African Oil Corporation announced its second largest oil discovery on the Orinduik block in the Joe-1 exploration well.
Drilled by the Stena Forth drillship, the Joe-1 exploration well had a total of 2,175 metres in water depth. “Evaluation of MWD, wireline logging and sampling data confirm 16 metres of net oil pay in high-quality oil-bearing sandstone reservoirs of Upper Tertiary age. Joe-1 is the first oil discovery to be made in the Upper Tertiary and de-risks the petroleum system of the western area of the Orinduik block, where a significant number of Tertiary and Cretaceous age prospects have been identified.” says African Oil Corp.
The partners of the Orinduik Block – Tullow Guyana B.V (60%), Total EP Guyana BV (25%) and Eco (Atlantic) Oil & Gas Ltd. (15%). – will conduct a detailed evaluation of the Jethro, Joe and Hammerhead extension oil reservoirs on the Orinduik block.
"We're two for two on the Orinduik Block offshore Guyana which shows the enormous potential of this block. The Joe well opens up a new shallow Tertiary play which, combined with the 90% plus success rate in the lower Tertiary and Cretaceous plays in our block and the adjacent Stabroek Block, gives us great confidence that the multiple remaining prospects in our block will enjoy similar high success rates,” commented Keith Hill, President and CEO of Africa Oil.
As a result of the discovery the company has opened a new Upper Tertiary oil play in the Guyana basin.
African Oil Corporation is headquartered in Canada with assets in Kenya. Additionally, African Oil Corporation has a signed agreement to acquire an interest in a producing asset in deep water Nigeria.