Project Profile
Value: Undisclosed
Location: Southeastern part of Republic of Congo
Production: 2,400 bopd
Reserves: 1.4 billion barrels and 2P reserves amounting to 320 million barrels
M\'Boundi field has oil-in-place estimated at 1.4 billion barrels and 2P reserves amounting to 320 million barrels. Net production from the M’Boundi field stabilised in the first half of 2012 averaging 2,400 bopd. Following issues with water injection in the second half of 2011, production volumes recovered in the first quarter of 2012 as sustained water injection uptime and the continued workover and infill drilling campaign arrested the decline seen in 2011. Eni became the operator of the field when the company completed the acquisition of Maurel & Prom assets in the Republic of Congo. Korea National Oil Company (KNOC) tried to acquire Tullow’s interest for a total cash consideration of US$435 million in 2007. The deal, which will involve the sale of Tullow\'s subsidiary company - Tullow Congo Limited, was subject to partner pre-emption and approval from the government of Congo (Brazzaville), but didn’t progress. Eni obtained a 43.1% interest in the field. Burren holds a 37% interest, Tullow Oil has 11% and National Congolese Petroleum 8.9%.
Operators:
Eni: Operator with 43.1% % interest
Burren Energy: 37%% interest
Tullow Oil: 11%% interest
National Congolese Petroleum: 8.9% interest