Corcel plc said preparations had started for drilling and appraisal at its recently acquired oil interest KON-11 in the Kwanza basin, onshore Angola.
TOBIAS FIELD
In May, the company acquired a 20% working interest 18% net to Corcel the non-operated block which holds 12 historical wells.
The operator is Angolan national oil company, Sonangol.
KON-11 is considered a brownfield development opportunity and includes the historically producing Tobias field.
During the 1960s and 1970s, Petrofina drilled and developed the field which has been inactive since the late 1990s.
PRODUCTION
Subject to results of the first well, one or more wells will follow with the Kwanza project’s consortium mainly focused on early oil production.
On positive drilling results, the geological and geophysical data will be evaluated to improve the structural maps of the block, and production will resume.
“Resuming exploration activities in block KON-11, specifically reactivating production in the Kwanza basin that has been shut-in since the 90s, represents an important milestone for the Angolan oil industry,” added Corcel.
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