Monday, March 30, 2009

Morocco strikes gas - again.


In good news for Morocco the Repsol company and its partners have struck gas with the Anchois-1 well in the Tanger-Larache area, 40 km (25 mi) from the coast of Morocco. The well struck two gas columns totaling 90 m (295 ft).

The exploration program on the Moroccan coast is part of Repsol's plan to assess the potential of gas-bearing sands off the African coast and the Canary Islands.

One of the partners, U.K. investor favourite Dana Petroleum also released news discribing the significant gas discovery at Anchois, in the Tanger-Larache licence, with its first well offshore Morocco.

The Anchois-1 discovery well is located about 40km from the coast and was drilled to a total depth of 2,435m. Two intervals of high quality, gas-bearing sands, were encountered in the well. The combined gas column encountered was about 90m with about 40m of net pay.

Preliminary estimates of reserves are around 100 billion cubic feet. Dana, together with its co-venturers, Repsol (operator), Gas Natural and ONHYM have decided to suspend the well as a potential future producer.

The joint venture group is now analysing all the data acquired before deciding on further exploration drilling in the Tanger Larache licence (Dana 15%). This gas discovery is very important as it is the first well in this large under-explored area and the other prospects in the licence have been significantly improved by the results of the Anchois well.

Also in Morocco, Dana has mobilised the GYP No.8 drilling rig to the Tafejjartt-1 well site and spudded the well on 24th March 2009. The well is expected to take about 3 months to reach TD.

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