Ophir ditches Ivory Coast block

UK-based Ophir Energy has decided to exit from Block 513 offshore Cote d’Ivoire (Ivory Coast), following an unsuccessful well at the acreage last year.

Block CI-513 covers a gross area of 1,443km2  in water depths up to 3,000m. 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 Wednesday, 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 Cote 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 $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 better drive value. Namely, Ophir also exited seven deepwater PSCs: the DW2A PSC in Malaysia and the Mbeli, Ntsina, Nkouere, Nkawa, Manga and Gnondo PSCs in Gabon.

Offshore Energy Today Staff

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