im5 is commercial11 May 2018 11:50
Confirmation of a discovery of Condensate and Gas in IM-5 Well, Etinde Block, Cameroon.
The Executive General Manager (EGM) of the National Hydrocarbons Corporation (SNH), Mr Adolphe MOUDIKI and the Executive Chairman of EurOil Limited (EurOil), Chief TABETANDO, are pleased to inform the national and international community, that a discovery of condensate and gas was confirmed, following the drilling of the IM-5 appraisal/development well, in the offshore Etinde Exclusive Exploration Authorization, located in the Rio Del Rey Basin, Cameroon.
Drilled from September 18, 2012 to March 5, 2013, in a water depth of 56 meters, and attained a total depth of 3,430 meters, the IM-5 appraisal/development well was a success with a discovery of two reservoirs intervals of condensate and gas bearing sands of a total of 95 meters of net pay. The first reservoir interval, situated in the Middle Isongo Formation, logged 25 meters TVD net hydrocarbons, while the second, situated in the Intra Isongo
Formation, logged 70 meters TVD net hydrocarbons of which 43 meters were perforated for the production tests.
The production tests performed from March 17, 2013 to April 21, 2013 revealed the following results: - (i) for the Middle Isongo, the maximum daily flow rate of 23 million cubic feet of gas and 3,155 barrels of condensate, and - (ii) for the Intra Isongo, the average daily flow rate of 37 million cubic feet of gas and 4,664 barrels of condensate.
The combined maximum daily flow rates of Middle and Intra Isongo are 60 million cubic feet of gas and 7,819 barrels of condensate. These rates could have been higher using increased tubing size. The condensate is high quality (approximately 43 degree API).
The total volumes of hydrocarbons (P50 in-place) of the IM field are estimated at 155 million barrels of condensates and 1,050 billion cubic feet of gas.
The well is being suspended as a future development/production well. EurOil Limited, as Operator and representative of the Contractor under the Etinde Exclusive Exploration Authorization, submitted to the Ministry in charge of Mines, an application for an Exclusive Exploitation Authorization over the Contract Area, with the aim of putting in production, the present discovery.
Mr Adolphe MOUDIKI, Executive General Manager of SNH commented: �We are pleased with the positive results of the IM-5 well which occurred after those of IE-3 appraisal well drilled in 2010 by the same operator in this area. According to the total volume of these discoveries, which is important, we would like to move quickly to the development phase, with the aim of increasing the level of national oil and gas production. The confirmation of
the discovery of the IM-5 well has demonstrated that the Rio del Rey Basin has not spoken its last word in terms of important oil and gas potential. We look forward, with our upstream stakeholders, to invest in the exploration, with the aim of increasing the national oil and gas production
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