UK-listed independent Ophir Energy says preparations for drilling to restart on the deepwater Ayame-1 oil exploration well offshore Ivory Coast, Africa, are at an advanced stage.
The well is expected to spud in late May and is targeting about 240 MMbbl Pmean recoverable resources, with an estimated 28% chance of commercial success. Ophir has a 45% operated interest in the license.
Meanwhile, Ophir says it is "firmly on schedule" for a final investment decision on the Fortuna LNG project, in Equatorial Guinea, Africa, in 1H 2017.
The firm also says investment decisions will be made during 2017 regarding the options to start further wildcat activity in Myanmar, Indonesia, Malaysia and Equatorial Guinea, in the next 6-18 months.
In December 2016, Ophir secured its first exploration footprint outside Asia and Africa when it won the Block 5 license, offshore Mexico, in the latest Mexico bid round. This was the first deepwater bid round in Mexico since the government’s move to liberalize the energy sector and provide greater access for international companies. Block 5 is in an underexplored, proven oil basin, and it was the most contested acreage in the bid round.
Ophir will have a 23.3% non-operated interest in Block 5. Other partners in Block 5 are Murphy Oil (operator), Petronas Carigali and Sierra Oil and Gas.