Ophir ditches Ivory Coast block

Ophir Energy has decided to exit from Block 513 offshore Côte d’Ivoire, following an unsuccessful well at the acreage last year.

Block CI-513 covers a gross area of 1,443 square kilometres in water depths up to 3,000 metres.

Ophir became the operator of the block after taking 45% of interest from African Petroleum in March 2016. African Petroleum has another 45% interest and the remaining 10% is held by PETROCI.

In its 2017 full year results report on the 7^th March, Ophir said it took the decision to exit the block at the start of 2018.

In 2017, Ophir drilled the Ayame-1X exploration well in Côte d’Ivoire using the Seadrill-owned drillship West Saturn. The well was spud at the end of April 2017.

No moveable hydrocarbons were encountered, and the well was plugged and abandoned as a dry hole in May last year. Ophir spent US$13 million on the Cote d’Ivoire Block CI-513 well.

Ophir’s exploration portfolio has now been reduced to concentrate its efforts and to drive value better.

Ophir also exited seven deepwater PSCs: the DW2A PSC in Malaysia and the Mbeli, Ntsina, Nkouere, Nkawa, Manga and Gnondo PSCs in Gabon.

Source: Offshore Energy Today