Results on Taachui-1 well in Tanzania expected in two weeks

Ophir Energy has announced that results from the offshore Taachui-1 well in Block 1 will be known by the end of May.

The well is projected to have a mean recoverable resource of 1.4 TCF and is being worked on by the Deepsea Metro 1 drillship.

Once work is complete on the Taachui-1 the rig will move to the Mzia-3 well which was drilled in 2013 to carry out a drill stem test.

Following the Mzia-3 DST, a well will be drilled on the Tende-1 prospect on the East Pande Block before the rig moves to drill the Kamba/Pweza North exploration well on Block 4.

According to Ophir Energy CEO Nick Cooper the explorer still has high hopes even after the Mlinzi Mbali-1 well failed to encounter any hydrocarbons earlier in the year

“There is significant potential upside in the remaining wells and in the plays being targeted this year. We expect to drill up to a further ten wells before year end as our two drillships continue their back-to-back programmes and also anticipate further progress on our two LNG projects in Equatorial Guinea and Tanzania  through 2014,” Cooper said in the newest Interim Management Statement and Operational Update released today.

On the midstream development activities on the Tanzanian LNG project are progressing with the formation of an Integrated Project Team to deliver early works and pre-FEED. The site for the LNG plant has been proposed to the Tanzanian Government.

Over the past few months Ophir Energy has completed the sale of a 20% interest in Blocks 1, 3 and 4, Tanzania to Pavilion Energy receiving US$1.255billion in cash including completion adjustments with a further US$38million payable on the final investment decision.

In Kenya has rationalized its portfolio rationalisation with the relinquishment of Ophir’s interests in Block L15 in Kenya while in Seychelles it has acquired 75% operated interests in two blocks offshore the Seychelles from WHL Energy.