IRVING, Texas — Exxon Mobil has reported a significant discovery with a potential recoverable resource of between 500 MMbbl and 1 Bbbl of oil on Owowo field, offshore Nigeria.
The Owowo-3 well, which was spud on Sept. 23, encountered about 460 ft of oil-bearing sandstone reservoir. Owowo-3 extends the resource discovered by the Owowo-2 well, which encountered about 515 ft of oil-bearing sandstone reservoir.
“We are encouraged by the results and will work with our partners and the government on future development plans,” said Stephen M. Greenlee, president of Exxon Mobil Exploration Company.
Owowo-3 was safely drilled to 10,410 ft in 1,890 ft of water. The field spans portions of the contract areas of Oil Prospecting License 223 (OPL 223) and Oil Mining License 139 (OML 139). The well was drilled by Exxon Mobil affiliate Esso Exploration and Production Nigeria (Deepwater Ventures) Limited and proved additional resource in deeper reservoirs.
Exxon Mobil holds 27% interest and is the operator for OPL 223 and OML 139. Joint venture partners include Chevron Nigeria Deepwater G Limited (27% interest), Total E&P Nigeria Limited (18% interest), Nexen Petroleum Deepwater Nigeria Limited (18% interest), and the Nigeria Petroleum Development Company Limited (10% interest).