Woodside discovers new oil and gas prospects in Gabon

coast GabonThis is the second oil discovery of Woodside in Gabon. (Image source: Gary Bembridge/Flickr)Australia-based Woodside Petroleum, a prominent player in Africa’s oil and gas exploration activities, has discovered a new oil prospect offshore Gabon

In its first-quarter report, Woodside said that the Boudji-1 exploration well in the Likuale (F14) Block1 intersected a 90-metre gross oil and gas column in high-quality hydrocarbon-bearing pre-salt sands.

The company further added that it is conducting a technical assessment of the oil and gas discovery.

The Ivela-1 exploration well in the Luna Muetse (E13) Block was completed during the quarter. The well found a 78-metre gross oil column, with further assessment being underway.

The Boudji-1 reached a total depth of 5,440 metres and the Ivela-1 reached a total depth of 5,487 metres, said the company in its Q1 2018 report.

In March 2018, PC Gabon Upstream S.A. (PCGUSA), the subsidiary of the state-run oil company in Malaysia Petronas, discovered new oil and gas from Boudji-1 exploration well in Block F14 (Likuale) in South Gabon. Petronas holds a majority of 50 per cent stake in the block, with Woodside and Gabonese government holding 30 per cent and 20 per cent respectively.

Following African governments’ ambitious plans to encourage and discover new oil and gas exploration wells throughout the continent, Woodside, along with other international oil and gas majors, have expressed interest in exploring Africa’s oil and gas prospects. In March 2018, Woodside awarded engineering contracts to the oilfield services provider Wood for Senegal oilfields.

Woodside also has a significant presence in North Africa’s oil and gas prospects. In Morocco, Woodside holds 25 per cent share in the Rabat Deep Offshore license, with Eni holding a stake of 40 per cent and ONHYM and Chariot holding stake of 25 per cent and 10 per cent respectively.

Speaking about exploring new oil and gas fields in Africa, Woodside said that it aims to support African governments in developing important deepwater oil and gas projects.

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