Perenco Unit Makes First Discovery Offshore DRC in 30 Years – Rigzone News

Perencos offshore Democratic Republic of Congo (DRC) subsidiary Muanda International Oil Company (MIOC) has made the first exploration discovery offshore DRC in almost 30 years.

The company has drilled two exploration wells to date this year, MIOC said in a news release.

The Moke-East well, located between the Lukami and Motoba fields in the DRC coastal basin, encountered a 24-foot net oil-bearing column. The Dixstone owned Nuada Self-Elevated Class 82 SD-C jack-up drilling rig was used for the discovery. The new discovery will be tested and the well will be completed in the coming weeks, according to the news release.

The Nuada rig has spud the first of twelve wells on the GCO field which is part of MIOCs continuing development drilling campaign offshore DRC. MIOC aims to unlock further additional resources in the country. It is expected to be completed in parallel with the CS02 Workover unit at the same location, MIOC noted.

Further, the second exploration well LUKS-A has now been plugged and abandoned following insufficient hydrocarbon potential to complete the well, MIOC noted. It had targeted a southern extension of the Pinda formation.

Perencos offshore DRC subsidiary, MIOC, has had an active start to the year, which has included drilling the countrys first offshore exploration wells for almost thirty years, Perenco DRC General Manager Frederic Kiepferle said. While testing continues, we are encouraged by the initial results of the Moke-East well. Following many months of preparatory work to ensure safe and successful operations, the Nuada has now moved onto the GCO field where it will be active for the next twelve months.

As the DRCs only international oil and gas producer, we are very pleased to further demonstrate our commitment, through this investment, to the discovery of new resources. We firmly believe that the DRCs oil & gas industry has a very positive future and that new projects could lead to the valorisation of LPG extracted from the gas for the local market, or to provide more gas to power in Muanda, Kiepferle added.

Present in the Democratic Republic of Congo since 2000, Perenco is the countrys only producing operator, working through Perenco Rep, its onshore subsidiary. MIOC is Perencos offshore subsidiary. The subsidiaries combined average production is 19,500 barrels of oil per day.

Campos Basin Acquisitions

In April, Perenco Brazil announced the acquisition of the Cherne and Bagre concessions from Petroleo Brasileiro S.A. (Petrobras). The deal includes the Cherne and Bagre fields and two fixed platforms, located 30 kilometers from the Pargo Cluster.

The PCH-1 and PCH-2 platforms were hibernated by Petrobras in early 2020 and later scheduled for decommissioning.

After the closing of the transaction, which is expected in 2025, Perenco Brazil will implement an ambitious redevelopment plan to revitalize the assets and restart production at a target rate of 10,000-15,000 barrels of oil per day, unlocking in excess of 50 mmstb of reserves, according to a separate news release.

A new export pipeline will be connected directly to Pargo to improve efficiency and continue Perencos strategy of giving a second life to the basin.

"This acquisition is a new milestone for the Perenco Group in Brazil. Since takeover of the Pargo assets in 2019 at a rate of 2,800 bopd [barrels of oil per day], we have increased production to over 20,000 bopd and successfully installed a new FSO. Perenco is proud to deploy its know-how to extend the life of these mature fields and grow our footprint in Brazil, Perenco CEO Armel Simondin said.

To contact the author, email rocky.teodoro@rigzone.com

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Perenco Unit Makes First Discovery Offshore DRC in 30 Years - Rigzone News