Market Report: H.E. Timipre Sylva to Receive Award for Good Leadership in the Nigerian Oil and Gas Industry
The Minister of State for Petroleum Services, H.E. Timipre Sylva, will receive Honors from the European American University for good leadership, dedication and service to the Nigerian oil and gas industry.
He will be presented with the award by the President of the institution, Professor John Kersey.
Meanwhile, the Group Managing Director of the Nigerian National Petroleum Corporation, Alhaji Mele Kyari attended the handover of the Port Harcourt Refinery to Tecnimont SPA to begin a $1.5 billion rehabilitation job. Kyari said that the first phase is on course to be completed in 24 months, while creating over 3,000 jobs for Nigerians in the community. After completion of the first phase, the refinery will help reduce dependency on the importation of refined petroleum products which leave the country vulnerable to high oil prices.
BW Energy announced that the drilling of the Hibiscus Extension appraisal well DHIBM-2 in the Dussafu Marin license in Gabon had fallen short of expectations, hitting water instead of oil. BW Energy stated that “the primary objective of the well was to test the northern extension of the Gamba Sandstone reservoir of the Hibiscus field, discovered in 2019. Initial findings indicate that the Gamba is water-bearing, instead of containing hydrocarbons. The Borr Norve jack-up continues drilling operations to intersect the secondary targets for the appraisal well in the deeper Dentale Formation. The data acquired from the DHIBM-2 well will later be analyzed and integrated into the larger Dussafu model to further refine the extensive exploration prospect inventory.”
The existing Hibiscus 2P gross recoverable reserves of 46.1 million barrels established by the DHIBM-1 well and its appraisal side-track, drilled in 2019, remain unaffected and will form the core of the upcoming Hibiscus/Ruche development project. BW Energy has started its three-well offshore drilling campaign in Gabon with the spud of the Hibiscus extension appraisal well in mid-April. The campaign is a three-well program on the Dussafu license offshore Gabon consisting of two exploration wells in the Hibiscus area and one production well on the Tortue field. Following the DHIBM-2 well, the rig will move to drill the horizontal production well, DTM-7H, at the Tortue field. The rig will subsequently move to drill the Hibiscus North prospect, located approximately 6 km north-northeast of the DHIBM-1 well.
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