Sasol has discovered a promising new oil field in relatively shallow water at Ebouri, off southern Gabon, the company announced on Wednesday.
The oil giant already has a 27,75% share in the 15 000 barrel-a-day Etame oil field, in the same region, which started operating in 2002.
”The discovery of oil in the first well drilled this year is encouraging and indicates that offshore southern Gabon has the potential to become a significant future cash generator for Sasol,” said chief executive Pieter Cox.
He said engineering studies to appraise and develop the discovery would now be undertaken by the operator of the block, Houston-based VAALCO Energy.
He said the well was located at a depth of 76 metres, about 11km north-west of Etame. Cox confirmed that two more exploration wells would be drilled in Gabon this year.
”The next few months will be an exciting phase in our west African campaign as we are also about to drill our first exploration well on the adjacent Dussafu Block, immediately south of the Etame oilfield,” he said.
Sasol is the operator of the Dussafu venture and intends to complete its exploration drilling programme in mid-2004.
Sasol Limited subsidiary Sasol Petroleum West Africa Ltd, owns a 27,75% interest in the Etame Field. VAALCO Gabon Etame is the operator and holds a 28,07% interest.
Other field partners are PanAfrican Energy Gabon Corp (31,36%), Energy Resources Japan Etame (Gabon) Limited (2,98%), PetroEnergy Resources Corp (2,34%) and EAGSA (7,5%). – Sapa