Green Energy begins Otakikpo 3D seismic acquisition campaign
The company has contracted a Chinese renowned company, SINOPEC Changjiang Engineering Services Limited for the 3D seismic acquisition programme of the marginal field, which is scheduled to commence in January 2018 and slated for completion in June 2018.
Also the approval of the Department of Petroleum Resources has been obtained for the exercise. Green Energy International Limited (GEIL) was also able attract a unique vendor financing deal with SINOPEC in which payment for the 3D seismic cost will be from cash flow from existing field production spread over the stages of the project.
The 3D seismic imaging is required to improve the subsurface understanding of the Otakikpo tested geological structure. The 3D Data will be used to high grade and de‐risk opportunities in the farm-out area as well as to increase exploration success rates of the untested structures (Otakikpo South) on the asset.
The field, which commenced production in February this year, is presently producing over 7,000 barrels per day.
The Technical Director of Green Energy International Ltd, Dr Bunu Alibe said the 3D programme is amphibious and will cover an area spanning both onshore and offshore surface area of 197 square kilometre and 62 square kilometres (subsurface fold, with water depth ranging from shoreline to 16 meters.
40 per cent of the seismic survey span the offshore area, the SINOPEC’s M/V SU YOU HAO using the latest solid streamer technology will be deployed for this operation).
With a 6km offset and 9-second record length, the data will provide spectacular imaging of the transitional zone of Niger Delta Coastal Swamp II Depobelt and will revolutionize the understanding of the Agbada and Akata plays in this axis.
Alibe added: “The Otakikpo Farmout Area also has a large untested structure (Otakikpo South) with well-established hydrocarbon systems, which offer exceptional growth opportunities for Green Energy International Limited.
Acquiring the 3D data is critical to Green Energy International Limited’s phase 2 development drilling campaign, which is expected to boost the Otakikpo’s field production.
The Otakikpo-South prospect is a large undrilled structure with great hydrocarbon-bearing potential located adjacent to the Otakikpo Main Discovery and within reach of the existing Otakikpo production infrastructure thus commercial discovery could be quickly delivered to market.”