Canada-based Meren Energy Inc., formerly known as Africa Oil Corp., has issued its third-quarter results update detailing progress on its producing and development assets in deepwater offshore Nigeria, as well as its development and exploration assets offshore West Africa and South Africa.
TotalEnergies and its partners are advancing studies for the deepwater Venus oilfield development in Block 2912 in the Orange Basin offshore Namibia. Meren, which holds a 39.5 percent interest in partner Impact Oil & Gas, reported that the Front End Engineering Design and Environmental and Social Impact Assessment should both be completed by the end of 2025, with the partnership targeting a final investment decision in 2026.
The base-case concept involves up to 40 subsea wells tied back to a floating production storage and offloading vessel with a production capacity of around 160,000 barrels per day, with reinjection of associated gas offshore. Contractors have submitted bids for the project, which is expected to achieve first oil in 2030. QatarEnergy and state-owned NAMCOR are the other co-venturers in the development.
Other prospects are under assessment for appraisal and exploration based on new 3D seismic data over Blocks 2912 and 2913B in the Orange Basin.
Offshore Nigeria, Meren has further interests in the deepwater producing fields Akpo, Egina, and Agbami. Development drilling at Akpo and Egina in the offshore PPL 2/3 license paused this summer to allow for interpretation of 4D seismic data in order to mature infill well opportunities. The TotalEnergies-led partnership aims to secure a deepwater rig to drill the near-field exploration prospect Akpo Far East, followed by further development wells on Akpo and Egina.
Akpo Far East holds estimated prospective resources of up to 143.6 million barrels of oil equivalent with a light, high gas-oil ratio equivalent to hydrocarbons in the Akpo field. If the well is successful, initial production could be achieved via existing subsea production manifolds.
Another project inching towards final investment decision is the Preowei field development. During the third quarter, TotalEnergies presented findings during a workshop of its reassessment of the Preowei seismic data, which have delivered encouraging results in terms of a potentially larger resource.
Source: offshore-mag.com