AAOG.L Share News (AAOG)

LONDON (Alliance News) - Anglo African Oil & Gas PLC on Monday said its Republic of Congo subsidiary Petro Kouilou has contracted Schlumberger Ltd to supply support services for drilling the new TLP-103 well on the Tilapia oil field.

The oilfield services company, which owns 56% stake in the Tilapia oil field, said operations at the TLP-103 well are expected to start in June and Schlumberger will provide mud logging, wire lining, cementing, drilling, drill stem testing and tubing conveyed perforating services.

Following the Schlumberger contract, Anglo African has secured all personnel and services to drill TLP-103. The well is targeting a gross contingent resource discovery of 8.1 million barrels and deeper prospect with 58.4 million barrels of gross prospective resources.

Anglo African also said that it has completed the workover of TLP-101 well, with the removal of a large build-up of wax in the flow lines. The company subsequently has started a test programme under which the flow rate and pressure will be tested at different chokes, which is designed to determine the optimum flow rate for the well.

The workover of TLP-102 well will take place earlier than expected and is set to be completed by early April, the company said.

"I am very pleased that the team both in the Congo and London continues to make excellent progress in executing on the development of the asset. In particular, we now have certainty on all material contractors for drilling TLP-103 and so can move with confidence into the final stages of planning for this key new well," said Anglo African Executive Chairman David Sefton.

Shares in Anglo African Oil were up 6.9% at 14.70 pence on Monday.