Exploration Company Announces New Gas Discovery In Tanzania

London listed upstream oil and gas exploration company Ophir Energy plc announced the successful results of the Taachui-1 & subsequent Taachui-1 ST1 well in Block 1, Tanzania which has resulted in a new gas discovery. Ophir holds 20% of Blocks 1, 3 and 4. BG Group operates with 60%. The Taachui-1 well was drilled to a Total Depth of 4215mMD. The well encountered gas in a single gross column of 289m within the targeted Cretaceous reservoir interval. Estimates for the mean recoverable resource from the discovery are c.1.0 TCF. The size of the gas column is such that the discovery could extend into a second compartment to the west which has the potential to be of a similar size. A Drill Stem Test will now be performed on the Taachui discovery with results expected before the end of June 2014. Ophir Energy CEO, Nick Cooper, commented: “The Taachui-1 discovery is important to Ophir for two reasons: firstly it extends the proven hydrocarbon system to the eastern limit of, and partly de-risks, Ophir’s East Pande permit on which the Tende-1 well will be drilled later in 2014; secondly the aggregate recoverable volumes of c.16.7 TCF are now approaching the threshold needed to underpin a potential third LNG Train from Blocks 1, 3 and 4.” Over the past two years, exploration activities in Tanzania’s deep offshore waters led to the discovery of 45 trillion cubic feet (tcf) of natural gas, and more is to come as drilling campaigns continue to unfold.