Bowleven, in its operational update announced that extended well tests has been concluded on the Moambe and Zingana wells in Cameroon and have been postponed awaiting ongoing assessment.

The company said negotiations have begun with potential gas off takers and a Memorandum of Understanding (MOU) has been signed with ENEO.

Bowleven also announced that two appraisal well locations has been decided with its partners aiming for a joint added in-place volumes of about 1 to 2 tcf of gas and associated liquids on the Etinde development.

Well design and planning are currently ongoing with the award of tenders expected this year to exploit low cost or high rig availability operating environment.

Operatorship talks are also ongoing with the Government on the potential to advance the Etinde development via an offshore processing facility.

According to Bowleven, its main goal for this year includes working together with the Etinde joint venture partners so as to ensure early appraisal drilling and testing, as well as the assessment of further off take solutions and the progression of Etinde development planning, obtaining the Exploitation Authorization (EA) for Bomono to allow for an advancement towards early development.

“We have continued to make steady progress towards our objective of converting resources to reserves in Cameroon. An Exploitation Authorization Application was submitted to the Cameroon Authorities to enable development progression following the completion of drilling and testing activities at Bomono and meanwhile planning and evaluation work is continuing. On Etinde, appraisal drilling and advancing development plans remain the focus under the operator, NewAge.  With planning underway and tendering expected to follow, the joint venture is ideally placed to exploit the current environment of reduced costs and higher rig availability, with appraisal drilling expected to commence in 2017,” Kevin Hart (photo), CEO of Bowleven told Energy-pedia.

He added that the macro-economic environment of continued lower oil prices has had sector-wide effects. The Group's strong balance sheet and no arrears or unsettled work programme obligations signifies that the company is capable of managing any trials faced by the industry and to also exploit opportunities as they come.

Anita Fatunji