Scirocco Energy on course to spud Chikumbi-1

Scirocco Energy plc expects to spud Chikumbi-1 well on time during Q3 following acquisition of 338km_² seismic survey at the Ruvuma PSA in Tanzania.

SEISMIC SURVEY

The company owns a legacy 25% working interest in the project for which ARA Petroleum Tanzania (APT) is the operator.

Scirocco said that completion of mobilisation of all equipment for the seismic was due by mid-February.

“The 3D seismic survey is an integral step in progressing and de-risking the Ntorya gas discovery ahead of the drilling of the Chikumbi-1 (CH-1) well.

“The seismic acquisition and subsequent interpretation will seek to refine and confirm the exploitable gas resources of the Ntorya field.

“Additionally the survey will provide greater clarity of the potential upside of the discovery as identified by the operator APT, through a re-interpretation of the existing 2D seismic dataset.”

RESOURCE

Scirocco said that APT’s revised mapping and internal management estimates suggested a risked prospective gas in place (GIIP) for the Ntorya accumulation of 3,024 bcf (gross basis, mean case).

The operator will test multiple lobes and a prospective, risked recoverable gas resource of 1,990 bcf (gross basis, mean case).

“APT continue to progress with well planning for the CH-1 well with key contracting now being undertaken,” added Scirocco.

Chief executive Tom Reynolds said that the company continued discussions regarding possible farm-down and divestment options.

It was also progressing funding options should Scirocco retain its 25% interest in Ruvuma at the time of the CH-1 well.