ExxonMobil makes deepwater oil discovery offshore Nigeria

Exxon Mobil Corp. has reported the Owowo-3 well encountered about 460 ft (140 m) of oil-bearing sandstone reservoir offshore Nigeria.

Oct 27th, 2016

Offshore staff

IRVING, TexasExxon Mobil Corp. has reported the Owowo-3 well encountered about 460 ft (140 m) of oil-bearing sandstone reservoir offshore Nigeria.

The Owowo-3 extends the resource discovered by the Owowo-2 well, which encountered about 515 ft (157 m) of oil-bearing sandstone reservoir. According to ExxonMobil, the Owowo field has the potential recoverable resource of between 500 MM and 1 Bbbl.

Spudded on Sept. 23, the Owowo-3 well was drilled to 10,410 ft (3,173 m) in 1,890 ft (576 m) of water.

The Owowo field spans portions of the contract areas ofoil prospecting license 223 (OPL 223) and oil mining license 139 (OML 139).

The well was drilled by ExxonMobil affiliate Esso Exploration and Production Nigeria (Deepwater Ventures) Ltd.

ExxonMobil holds 27% interest and is the operator for OPL 223 and OML 139. Joint venture partners include Chevron Nigeria Deepwater G Ltd. (27%), Total E&P Nigeria Ltd. (18%), Nexen Petroleum Deepwater Nigeria Ltd. (18%), and the Nigeria Petroleum Development Co. Ltd. (10%).

Stephen M. Greenlee, president of ExxonMobil Exploration Co., said: “We are encouraged by the results and will work with our partners and the government on future development plans.”

10/27/2016

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