Ophir provides an update on its asset portfolio and an update on trading for the year ended 31 December 2015.
West African exploration
Ophir has a 45% operated interest in Block CI-513 offshore Cote d’Ivoire.
- Block CI-513 PSC signed in March 2016
- Drilling of an exploration well expected to take place during 2017
Ophir's operated interest
Block CI-513 is located in a relatively under-explored part of the transform margin play fairway.
Extensive regional play fairway evaluation has been conducted in 2014-2015 and the Block contains exploration opportunities of similar geology and scale to the discoveries in the Tano Basin to the east.
Initial activity will be to establish an in-country operating office sufficient capacity to safely and efficiently drill the commitment exploration well planned towards the end of 2017. Technical work will focus on identifying an optimal drilling location followed by well planning studies, drilling execution and post-well evaluation. This performed in good time to allow a fully informed decision on the license drill-or-drop option in March 2018.
Ophir has interests in six blocks in Gabon: Mbeli, Ntsina, Manga, Gnondo, Nkouere and Nkawa. All of these are located offshore in the North Gabon basin in water depths of up to 2,500 metres.
Ophir has a 50% operated interest in the Mbeli and Ntsina Blocks, a 100% operated interest in the Gnondo and Manga Blocks and a 100% operated interest in the Nkawa and Nkouere Blocks acquired in 2014.Close
- Shot over 10,000 sq km of seismic across six blocks in a single campaign over six months. Data processing was completed in March 2016 and interpretation studies are underway.
- Interpret extensive 3D seismic data and develop prospect inventory.
operated interest in four Blocks
play fairways have been identified
Processing of the 10,000 sq km Olumi Rouge 3D survey acquired in 2014 was completed in 1Q 2016.
Gravity and magnetic data acquired with the seismic survey has been processed and interpreted confirming Ophir’s previous understanding of the crustal morphology of the North Gabon Basin. Integrated analysis of the seismic and potential fields data will be conducted during 2016 to determine the forward work programme on the six blocks.