LONDON (Alliance News) - UK oil and gas company Savannah Petroleum PLC said on Monday that the Bushiya-1 exploration well in Niger encountered ten metres of net oil-bearing reservoir sandstones across two intervals in the primary Eocene Sokor Alternances objective.
Wireline logs have indicated the reservoir properties in both sections to be of good quality with light oil contained within both intervals. The well was drilled to a total measured depth of 2,200 metres in 16 days, and all operations are expected to be completed within 25 days of spud, with well costs set to be under budget.
Savannah has suspended the Bushiya-1 for future re-entry, in preparation for a production test to be performed as part of a batch campaign using a workover and well-testing rig once the results of the other two exploration wells in the current drilling campaign are available.
The rig will now be moved to the Amdigh well site, 6.0 kilometres from Bushiya, and it will prepare to spud the Amdigh-1 exploration well. Construction of the well pad has been completed, and the rig move is expected to take 10 to 15 days.
"This morning's announcement marks an encouraging start for our multi-well drilling campaign in Niger. I would like to take the opportunity to remind our stakeholders of our Niger exploration strategy. We are focused around discovering and aggregating a series of oil fields to create and/or participate in hub-and-spoke production development," said Chief Executive Officer Andrew Knott.
"We are not seeking to "re-invent the wheel". We are simply seeking to discover fields in our permit areas of similar size to the established ARB discovered field resource volume distribution by employing similar analytical techniques, equipment and service providers to those that have been used to so much success in other permit areas elsewhere in the ARB in recent times," Knott added.
Shares in Savannah Petroleum were up 5.7% at 29.33 pence on Monday.
