Ophir provides an update on its asset portfolio and an update on trading for the year ended 31 December 2015.
Ophir opened the Mafia Deep Basin, offshore Tanzania and has to date discovered 17 Tcf of gross contingent resource.
Blocks 1 and 4
- Net contingent (2C) resource of 3 Tcf (501mmboe)
- Total gross contingent resource sufficient to support a three train LNG development
Gross contingent resource
Ophir's interest in Blocks 1 and 4 having farmed out 60% to BG (now Shell) in 2010.
Ophir was awarded a 100 per cent interest in Block 1 in 2005, and in Blocks 3 and 4 in 2006. Drilling began in 2010 and since then 16 wells have been drilled on a mix of Tertiary and Cretaceous plays including the large Mzia and Jodari discoveries in Block 1. Of the 16 wells drilled, 11 have been successful exploration wells and five have been appraisals. Production flow tests have been completed on Jodari, Mzia, Pweza and Taachui discoveries.
The assets have entered the pre-development phase for the Tanzania LNG project. In 2014 the JV Partners in Blocks 1 and 4 and the partners in Block 2 (Statoil and ExxonMobil) signed an agreement to co-operate on a combined onshore LNG plant. The Block 1 and 4 partners, Block 2 partners and the Government also signed a MoU for the project including the site of the LNG plant and the process for acquiring the land and for how any resettlement will be managed.
The project is currently in the pre-FEED stage and is expected to enter into FEED following the completion of the LNG site acquisition, the geotechnical investigations and engineering studies. In parallel, the concept selection for the upstream part of the project which will determine the configuration and production rates from each of the fields.