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Addax Sees FPSO at Ofrima North off Nigeria

2nd May '08

A combination of discoveries at Ofrima North 50 km south of Brass, Nigeria, justifies standalone development with a floating production, storage, and offloading vessel and subsea tiebacks, said Addax Petroleum Corp., Calgary.

Addax said its most recent discoveries "give us the critical mass required to develop a successful new standalone oil production hub" and the potential for future gas exports from OML 137. Production may be possible as early as late 2009. The Ofrima North discovery well, Ofrima-2, cut 170 ft of gross oil-bearing interval in the H42 reservoir and gas-bearing intervals with a gross 29, 43, and 158-ft columns at shallower and deeper depths in 2007.

Ofrima-3, in 75 m of water in the field's west fault block 1.5 km west of Ofrima-2, found water in H42 and cut a gross 72 ft comprising 30 ft of light oil overlain by 42 ft of rich gas, a 50-ft gross liquids-rich gas column, and a 32-ft gross light oil column. No flow tests were run. In the main fault block, Ofrima-3A confirmed the western continuity of the H42 oil reservoir and a common oil-water contact with Ofrima-2 about 1 km east. The Saipem Scarabeo-3 semisubmersible has moved to drill development wells in Okwori and Nda fields 80 km east, and Addax plans to further explore and appraise the area around Ofrima North.

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