Murphy Oil has started drilling the Bamboo-1 exploration well on the Ntem concessions, offshore Cameroon, using the Ocean Confidence(pictured) fifth generation semisubmersible drilling rig.
The well, about 56km off the coast, has an estimated target depth of 4200m true vertical depth subsea and will be drilled in 1600m water depth. Drilling is anticipated to take about 60-70 days.
The Bamboo prospect is a basin floor fan target within the highly prospective UpperCretaceous play. A series of stacked fan targets have been identified and will be intersectedby the Bamboo-1 well with the primary objective estimated to have a mean un-risked, grossprospective resource of 422MM bbl and 170billion cu ft of gas, a total ofsome 450MM boe.
Sterling Cameroon has a 50% non-operated working interest in the NtemConcession. Murphy Oil will pay Sterling’s share of the costs for the drilling of the Bamboo-1well.
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