Benin, Seme Field10 Jan 2023 20:15
Acquisition of a PSC agreement for Block 1 assumes a special significance when you have access to the latest and most advanced analysis of the integrated seismic and well data for the region. AC hints as much in his reference to “a new Seme North oilfield” which although first identified as a prospective field in 2015 has been the subject of more recent detailed geophysical studies
Benin-based, State and University geophysicists with assistance from Schlumberger have identified unexploited reservoirs in the central and western parts of the North Seme Field and have produced 3D geometrical and petrophysical modelling which will assist in technical development of the field. Such studies significantly derisk the exploitation of recoverable reserves, in this instance estimated at 30 million barrels assuming a 30% Recovery Factor.
From my initial understanding of the data, the main H6 Horizon Reservoir, [Turonian Sandstone, Abeokuta Formation] is shown to be comprised of 7 lithostratigraphic, discontinuous, sub-reservoir units and 4 barrier units, up to 100m in total thickness, segmented into structural blocks by faulting. Petrophysical modelling indicates an average 18% porosity, good permeability, and pressure gradients conducive to favourable flow rates which may not require water flooding stimulation techniques. The high water cut [up to 90%] evident in some of the wells still producing in 1998 appears to have been confined to the eastern part of the field and, as data suggests, may not be a factor in the central and western areas.
The existence of such a recent, authoritative seismic analysis, provides further reassurance that the PSC if successfully concluded, will provide ZEN with a potentially transformational asset.
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