Cove Energy discovers the first oil ever in the deepwaters offshore East Africa with Ironclad-1

Source: Cove Energy

Cove Energy (LON:COV) revealed that the Ironclad-1 exploration well located in Area 1 license block offshore Mozambique in East Africa has discovered oil. 

Ironclad - 1, located approximately 110 kilometers south of the Windjammer gas discovery well, was drilled to evaluate the hydrocarbon potential of an aerially extensive Cretaceous deepwater fan complex in the southern part of the permit and in particular to determine the presence of oil in an area believed to have the geological parameters necessary for liquid hydrocarbon generation.

Drilling operations have now ceased at a total depth of 5304 meters the well having penetrated 205 meters of targeted Cretaceous age sediments in two distinct fan lobes.

We are pleased to report that the well penetrated thirty-eight meters (38 meters) net of oil and gas saturated sands in the upper fan lobe. The presence of oil has been confirmed by geochemical analysis of rotary side wall cores taken from the well bore. Significant gas shows were also present throughout the drilling of the Cretaceous section. 

Having established an oil and gas column, future geological analysis of the Ironclad fans will focus on delineating areas predicted to have good reservoir parameters in terms of porosity and permeability necessary to support commercial exploitation.

The oil encountered in the Ironclad well is the first documented occurrence of liquid hydrocarbons in deepwater offshore East Africa.

On finishing operations at Ironclad, the Belford Dolphin will move to the Barquentine well site, located east of Windjammer, where surface casing is already set to approximately 2,300m. Following Barquentine, which is expected to take approximately 6 weeks, it is planned to drill at least 2 further exploration wells.

"This is very promising not just for the Cretaceous fan systems, where over 80 sq/kms of closure have been mapped, but for additional nearby prospects already identified elsewhere in the Offshore Area 1 block,” said John Craven, Cove Energy CEO. “In addition the presence of oil and its associated petroleum system in Ironclad is significant for our extensive deepwater blocks in both Mozambique and Kenya." 

Anadarko (NYSE:APC) serves as the operator of the Rovuma Offshore Area 1 with 36.5 percent interest. Project partners include Mitsui with 20 Percent, BPRL with 10 percent, Videocon with 10 percent, ENH with 15 percent and Clove with 8.5 percent working interest.

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