Tobias-13 shows potentially ‘significant’ productive zones

The Tobias-13 well has encountered “several potentially productive zones in multiple intervals” in the Kwanza basin, Angola.

BINGA RESERVOIR

Corcel plc’s joint venture and operator Sonangol (80%) drilled at a downdip location from historic production to the planned depth of 958.5 metres, penetrating the entire Binga reservoir section of a circa 120m column.

Results indicate “scope for significant remaining hydrocarbon production potential”.

“The drilling results for the TO-13 well were positive, with oil shows found throughout the Binga reservoir in alignment with the distribution seen in historic production wells in the Tobias field, confirming the ability to reactivate production in the field.”

Corcel added that the historic peak production at Tobias was 17,500 bbls/d with 29 MMbbls produced over the life of the field. 

The company’s estimated unproduced contingent oil resources are 65 MMbls (11.7 MMbls net to Corcel).

TOBIAS-14

A rig is mobilising to drill a second well Tobias-14 approximately 1.3km northeast of TO-13 with a spud date of mid-November. Operations are expected to last 40 to 50 days.

Tobias, along with the Galinda field, is within the brownfield development block KON-11 which has been shut-in since the 1990s.

In May, Corcel acquired the KON-11, KON-12 and KON-16 from Atlas Petroleum Exploration Worldwide Ltd.

Executive chairman Antoine Karam described the results from TO-13 as “highly encouraging”.

“TO-13 looks to cornerstone development of a future EPS [early production system] and provides Corcel with line of sight to near-term revenue generation, and the testing programme will give us invaluable data on how best to deliver on that goal.”