Project Profile

Value: US$800 million
Location: Offshore Cameroon
Reserves: unknown
Area: 2,314 km2
Water Depth: 70 m

Bowleven operates three shallow blocks in the Etinde Permit area. Bowleven has a 75% equity interest and Vitol E&P Limited has a 25% equity interest in the Etinde Permit. Located near hydrocarbon-bearing regions on the West African coast including offshore Nigeria, Equatorial Guinea and Angola are Blocks MLHP-5, MLHP-6 and MLHP-7. The Blocks are located across the Rio del Rey basin (part of the southern margin of the Niger Delta oilfield basin) and the Douala Basin (which contains large undrilled seismically identified structures), together referred to as the Etinde Permit.  

The Etinde Permit covers approximately 2,314 km2. The water depths are shallow, from the shoreline up to approximately 70 metres maximum depth. A production sharing contract was signed over the Permit in December 2008 incorporating a further three year exploration phase from this date. A drilling campaign is currently ongoing on the Etinde Permit. The first well in the campaign, the IE-3 gas/condensate appraisal well is currently being drilled. Development will involve a wellhead platform on IE with a facility platform on IF. Both would be linked to an FPSO. Nine producing wells and six injector wells are planned.

In 2004/05, Bowleven drilled three wells in block MLHP-7, one of which was a small gas discovery. Later in 2007 the group drilled a successful appraisal well on block MLHP-7 (IE-2) and a successful exploration well on block MLHP-5 (D-1r). It also drilled an exploration well on block 7 (IF-1) that had to be abandoned due to well control issues following a significant gas kick. The first oil discovery on the Permit was made in 2008 by the group; the IF-1r well tested an average of 3,371 bopd from the Upper Isongo section. By 2010 an appraisal well (IE-3) was drilled on block MLHP-7, successfully encountering oil and firmly establishing block MLHP-7 as having significant liquid oil potential in addition to proven gas condensate resource. Bowleven drilled in the Douala Basin with four wells (Sapele 1, 1-ST, 2 & 3) successfully encountering oil and gas condensate at multiple intervals on block MLHP-5. This led to a considerable improvement in in-place hydrocarbon volume estimates and the group’s P50 contingent resources increased 39% year on year to 217 mmboe (net).  


Operators:

NewAge (African Global Energy) Ltd.: Operator with 30% interest

Euroil (a subsidiary of Bowleven plc): 20% interest

Cameroon National Hydrocarbons Corporation (SNH): 20% interest

Lukoil: 30% interest


Contractors:

Petrofac: Provide engineering capabilities

Plexus Holdings: Supply wellhead equipment for appraisal drilling wells

Vantage Drilling: Drilling contract