Project Profile
Value: Undisclosed
Location: Ebene license, offshore Gabonese Republic (Gabon)
Reserves: 7,500,000 barrels
Production: 2,000 barrels per day
Start-up Year: -
MPDC Gabon Co. Ltd., a wholly owned subsidiary of Mitsubishi Corporation, has discovered an oil field in Ebene license, offshore Gabonese Republic. The discovery was named Loche East Marine field and was immediately applied for development and production authorization. Currently producing around 1,000 barrels per day with 1 well, the Loche production is expected to reach more than 2,000 barrels per day with maximum reserve potential of 7,500,000 barrels. Oil show has been observed through an exploratory drilling in March 2007 and has been verified by an appraisal well completed in November 2008.
Perenco owns 50% in the license with operatorship and a partner MPDC Gabon held the remaining 50%. In October 2013, Chiyoda Corporation (Chiyoda) acquired 2,475 shares (equivalent to 25% of issued shares) of MPDC Gabon Co. Ltd. (hereafter MPDC) from Mitsubishi Corporation. It is planned to increase production in the other block, Loche East, by drilling a new production well in or after 2014.
Operators:
Perenco: Operator with 50% interest
MPDC Gabon Co. Ltd.: 50% interest