Pan Petroleum Gabon B.V., a subsidiary of Panoro Energy (ticker: PEN), approved a development program for the development of the Dussafu oilfields in offshore Gabon. Panoro expects that the first phase of development will cost approximately $150 million.
The development plan itself consists of two horizontal wells located in Tortue and drilled into the Gamba and Dentale reservoirs. The plan also includes drilling an appraisal side-track in the northwest portion of the Tortue field. The two horizontals will be tied back to a floating production storage and offloading (FPSO) facility once they are producing.
Netherland Sewell and Associates (NSAI) has been contracted to review the Dussafu fields and generate updated reserves values that account for the to-be-accessed reservoirs, Panoro said.
Source: Panoro Energy
The Dussafu development block is an area offshore of Gabon that holds other oil and gas discoveries and prospects. Panoro itself, through its subsidiary, owns an 8.33% interest in the development. Pan Petroleum is targeting the Tortue field within the Dussafu development. Three other fields exist in the area, the Ruche, Moubenga, and Walt Whitman fields. Other oil and gas companies operating in the Dussafu area include BW Offshore and Harvest Natural Resources.
Panoro expects that the development could produce up to 15,000 BOPD initially out of the two planned 2018 wells.
