Renaissance Africa Energy Company has announced a fresh offshore oil discovery at the JK-004 well in OML 74, with the well cutting through roughly 1,000 feet of hydrocarbon-bearing rock across seven separate reservoirs of light oil.
Nigeria’s Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, described the find as a significant milestone for the country’s upstream sector, which has been battling years of crude theft and underinvestment.
Renaissance managing director Tony Attah said preliminary log interpretation and fluid analysis confirmed excellent reservoir quality, adding that the discovery, made just over a year after the company took over operatorship of the assets, demonstrates the strength of its exploration programme. He credited close collaboration with NNPC Limited, TotalEnergies and Agip Energy and Natural Resources for the result.
Renaissance vice president of exploration, Dr Johnbosco Uche, said the well’s location near existing facilities should allow for rapid commercialisation. The Nigerian Upstream Petroleum Regulatory Commission and NNPCL both welcomed the discovery as consistent with efforts to grow the country’s hydrocarbon reserves. OML 74 is a large shallow-water block in the eastern Niger Delta, part of the sprawling portfolio Renaissance acquired from Shell.
Source: worldoil.com, offshore-mag.com