Continental Focus, International Reach

Kosmos and Partners Strike More Oil on Ghana

Thursday, January 8, 2009

Partners on the Kosmos operated Mahogany-3 well offshore Ghana have something to celebrate as the well has been deemed another oil discovery.

 

On behalf of the partners, Kosmos announced that the Mahogany-3 well located in the West Cape Three Points license has intersected significant light oil columns in both the Jubilee field appraisal objective and also a deeper exploration target. In total, 33 meters of net pay were penetrated.

 

The primary objective of Mahogany-3 was to appraise the Jubilee field reservoir section away from the strong seismic amplitudes which have been the main targets to date. Results of drilling, wireline logs and samples of reservoir fluid indicate that 16 meters of high quality stacked oil bearing sandstones were encountered, confirming a significant extension of the Jubilee field to the southeast.

 

The secondary objective of the well was to drill Mahogany Deep, an exploration target which has been identified on 3D seismic but lies at a previously untested stratigraphic level. In this section, the well encountered 17 meters of good quality oil bearing reservoir sandstones at levels significantly deeper than the oil water contacts previously intersected on the Jubilee field. Reservoir fluid samples recovered indicated an oil gravity of approximately 35 degrees API. Kosmos says this is a significant new find and opens up further potential in the region.  

The well was drilled by the Eirik Raude semi-submersible rig to a depth of 4,028 meters in a water depth of 1,236 meters. Once wireline logging operations are completed, casing will be set in advance of further drilling which is being carried out to gain further information on the regional geology.

 

Following the drilling of the Mahogany-3 well, the Eirik Raude will spud the Tweneboa-1 exploration well on the Deepwater Tano Block, which is targeting a prospect potentially similar in size to the Jubilee Field. Along with its block partners, Kosmos plans an active exploration and appraisal program on its Ghanaian acreage during 2009, which also includes the Teak exploration well that will be drilled during the first half of the year.

"We are pleased to start 2009 with continuing appraisal and delineation success of the Jubilee Field area, as well as making our third substantial oil discovery in the last 19 months," said Brian F. Maxted, Kosmos Chief Operating Officer. "Importantly, the recent appraisal and exploration well results have validated our geological and geophysical models, thereby providing confidence in the Jubilee Field upside and optimism for future exploration success.

"It’s also important to note that the Mahogany-3 well was drilled in a compromise location to fulfill multiple objectives. For this reason, the well did not optimally test the Mahogany Deep prospect. We look forward to pursuing the full potential of Mahogany Deep with an appraisal well in late 2009," Maxted added.

"We have a great track record of working with the people and government of Ghana, including the Ghana National Petroleum Corporation, to help develop and produce their natural resources," said James C. Musselman, Kosmos Chairman and Chief Executive Officer. "We look forward to continuing our long-term business relationship with them."  

 

Aidan Heavey, Tullow Chief Executive, said: “Successfully proving up a significant south-eastern extension of the Jubilee field and discovering an additional light oil accumulation beneath is another excellent result from our Ghanaian exploration and appraisal program. Hyedua-2 and, in particular, Mahogany-3 were bold step-outs from the core of the field and while the combined impact is currently being evaluated, it is clear that they have confirmed our view of the substantial upside potential of the Jubilee field and increased our expectations of the extent of the core of the field.”

Kosmos Energy is operator of the West Cape Three Points Block in which the company holds a 30.875% interest. Anadarko Petroleum has a 30.875% interest; Tullow Oil has a 22.896% interest; the E.O. Group has a 3.5% interest; and Sabre Oil and Gas has a 1.854% interest in the block. Ghana National Petroleum Corporation (GNPC) has a 10% carried interest.


« GO BACK