Last Updated 14 years ago by Kenya Engineer
Pancontinental Oil & Gas NL has announced discovery of natural gas at their offshore Coast prospect, the Mbawa-1 well. This comes a few days after the company requested for a trading halt until today’s announcement.
“We are delighted to prove that there is a working hydrocarbon system offshore Kenya. Further work continues to evaluate the size of the discovery”, said Director of Pancontinental, Barry Rushworth in a statement.
He said that the discovery is very promising and it is the first ever substantive hydrocarbon discovery offshore Kenya though they have not finished operations at the well.
The L8 well has encountered approximately 52 net metres of natural gas pay in porous Cretaceous sandstones. The well was drilled to a depth of 2,553m below the drill floor at which point wireline logs, fluid samples and sidewall cores were acquired from the well. Drilling is however to continue to a deeper exploration target as these interim results could be the first part of the story in the well.
Mbawa is owned by a consortium of companies, Apache Corporation (50%) Origin Energy Limited (20%), Pancontinental Oil & Gas NL (15%) and Tullow Kenya B.V. (15%)
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