Africa Energy Announces Signing of Rig Contract for Block 2B

Source: www.gulfoilandgas.com 3/3/2022, Location: Africa

Africa Energy Corp., an oil and gas company with exploration assets offshore South Africa and Namibia, is pleased to announce that the joint venture partnership for Block 2B offshore South Africa has contracted the Island Innovator semi-submersible rig to drill the Gazania-1 well by October 2022.
Garrett Soden, Africa Energy's President and CEO, commented, "We are pleased to secure the Island Innovator rig to drill a high-impact oil exploration well this year on Block 2B. The block has significant contingent and prospective resources in shallow water close to shore and includes the A-J1 discovery from 1988 that flowed light sweet crude oil to surface. Gazania-1 will target two large prospects seven kilometers up-dip from A-J1 in the same basin as the recent Venus and Graff discoveries."

Block 2B is located offshore South Africa in the Orange Basin where both Total and Shell recently announced significant oil and gas discoveries offshore Namibia. The block covers 3,062 square kilometers off the west coast of South Africa 300 kilometers north of Cape Town with water depths ranging from 50 to 200 meters. Oil was discovered and tested by Soekor in the A-J1 borehole drilled in 1988. Thick reservoir sandstones were intersected between 2,985 meters and 3,350 meters. The well was tested and flowed 191 barrels of oil per day of 36-degree API oil from a 10-meter sandstone interval at about 3,250 meters. Significant prospectivity has been identified over the entire A-J graben area using 686 square kilometers of 3D seismic data acquired in 2013.

Africa Energy has a 27.5% participating interest in Block 2B offshore South Africa. Block 2B is operated by a subsidiary of Azinam Limited ("Azinam"), which holds a 50% participating interest. A subsidiary of Panoro Energy ASA holds a 12.5% participating interest with Crown Energy AB indirectly holding the remaining 10%. Subject to completion of a definitive agreement announced on February 8, 2022, Eco (Atlantic) Oil & Gas Ltd. will acquire 100% of Azinam.


Bermuda >>  6/27/2022 - In order to sell the "Tivar," "Huldra," and "Heidrun" (collectively referred to as the "Transaction Rigs"), three high-specification units being built...
United Kingdom >>  6/23/2022 - Noble Corporation has entered into an asset purchase agreement to sell five jackup rigs for $375 million to a newly formed subsidiary ("Buyer") of She...

Saudi Arabia >>  6/22/2022 - The contract extensions for the AOD I, AOD III, and West Callisto for work offshore in the Arabian Gulf have been awarded to Seadrill Limited ("Seadri...
United Kingdom >>  6/22/2022 - In addition to our press release from June 9, 2022, Awilco Drilling Plc announces that the previously mentioned sale of the drilling rig WilHunter has...

Norway >>  6/21/2022 - The Petroleum Safety Authority Norway (PSA) has given an order to Equinor after an audit of that company and KCA Deutag (KCAD) as well as their develo...
Brunei Darussalam >>  6/17/2022 - In recognition of the drillship’s outstanding performance in all aspects during its time in Brunei Darussalam, Shell has named Maersk Viking its 2021 ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.