Study to review Lake Albert drilling needs

The Fleurette Group subsidiary Oil of DRCongo has updated its analysis of two blocks in Lake Albert.

Aug 8th, 2014

Offshore staff

KINSHASA, Democratic Republic of Congo – The Fleurette Group subsidiary Oil of DRCongo has updated its analysis of two blocks in Lake Albert.

During 2013-2014 TESLA (UK) acquired 700 km (435 mi) of offshore and 150 km (93 mi) of onshore3D seismic over the two blocks. Analysis of the data by UK-based GeoTrace and Italy’s Ecopetrol, in conjunction with Sproule International, indicates around 3 Bbbl of prospective oil in place.

In line with early-stage seismic results, oil in place on the DRC side of Lake Albert mirrors that of the Ugandan side.

Oil of DRCongo’s next priority is to drill two exploratory wells and to acquire more 3D seismic over the most complex structures. The company is working on a feasibility study of evaluating the entire drilling exercise.

This includes potential relocation of some local communities, transporting drilling equipment to the site, installation of a base camp for staff, and building new supply roads, a new dock on Lake Albert and a landing strip for moving personnel and equipment.

The company expects to launch tender documents for drilling works by the end of October.

If oil is proven and can then be extracted and exported safely and economically, production from Lake Albert of around 50,000 boe/d could increase the present GDP of the DRC by 25%, the company claims.

08/08/2014

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