Project Profile
Location: Offshore Cameroon, Rio del Rey Basin, Gulf of Guinea
Area: 3,900 acres (16 sq. km)
Water depth: 40-50 m
Contingent resources:20 mmbbl of oil and 200 bcf of gas
Production: 15,000 bpd (2015)
Start-up year: February 2014
In April 2008, Addax Petroleum signed a PSC with the Republic of Cameroon and, in 2013, was granted a production licence.
Addax Petroleum Corporation made a discovery in the Padouk-1X exploration well the Iroko Block, located in the Rio Del Rey Basin, offshore Cameroon. The well logged 38.6 m TVD net oil and 65.1 m TVD net gas in six sands. The appraisal phase was in 2013 when additional tests were conducted to determine the extent and commercial viability of the discovery.
Operator:
Addax Petroleum: Operator with 70% interest
Republic of Cameroon