Soco International, an oil and gas exploration and production company, has found on hydrocarbons present in the Baobab Marine-1 (BABM-1) commitment well, offshore Congo.
Soco started drilling the BABM-1 commitment well, in the Mer Profonde Sud Block located in the Lower Congo Basin, on February 5, 2016. The well reached total depth on February 25, 2016.
The well was drilled by the deepwater drillship Noble Globetrotter II on the RR Prospect to a measured depth of 3,275 metres and intersected the stacked early Miocene channel complexes that were targeted.
According to the company, although good quality sands were present, no hydrocarbons were encountered, suggesting lack of communication with the known oil source.
Barring any complications with plugging and abandonment operations, the well should come in under budget and was drilled safely with no lost time accidents, the oil company said.
Soco is the operator of the block with 60% interest and its project partners are PARC and SNPC with 25% and 15% interest, respectively. Soco is carrying 100% of the expected c.$25-30 million well cost.