African Petroleum starts well drilling programme offshore Liberia

Rig offshore sunsetAfrican Petroleum Corporation is in discussions with PetroChina for an investment of up to 20 per cent equity in Block LB-09 in Liberia. (Image source: arbyreed)African Petroleum Corporation Limited has commenced spudding of the Bee Eater-1 well in Block LB-09 offshore Liberia with Ocean Rig’s semi-submersible rig Eirik Raude

The well, which is located a 9.5km northwest of the 2012 Narina discovery, will test an extension of the Narnia-1 Turonian oil discovery for better reservoir quality.

"2012 has been a very successful year for the company with the Narina-1 discovery in Liberia and the expansion of the exploration portfolio with the addition of five more exploration blocks in Senegal, Sierra Leone and Côte d’Ivoire,” said African Petroleum Corporation CEO Karl Thompson.

“Extensive 3D seismic surveys have been acquired on the blocks in Senegal and Cote d’Ivoire with very encouraging results and are being evaluated to include in our forward drilling program.

“We are looking forward to a very active exploration program in 2013 starting with the drilling of the high potential Bee Eater prospect in Liberia LB-09 and follow on drilling in Liberia plus Cote d’Ivoire and The Gambia/Senegal coast.”

African Petroleum Corporation is currently in talks with PetroChina for an investment of up to 20 per cent equity in Block LB-09 in Liberia.

The oil and gas exploration company is also negotiating farm out deals with a number of international oil companies on exploration blocks located in Côte d’Ivoire, Liberia, Gambia and Senegal.

According to the October Quarterly Activities Report, African Petroleum Corporation had US$169.7mn financial backing for the project of which US$87.5mn was held for drilling and security deposits to achieve its principal drilling targets.

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