Sputnik on the launchpad

Sputnik on the Launchpad

• Bianca Bartucciotto

11 July 2014 01:10 GMT
Perenco lines up Tungsten Explorer as it targets 206 million barrels of potential oil resource with wildcat off **on
FRANCE’S Perenco is gearing up to spud a pre-salt well off **on in the coming weeks, with a Vantage Drilling drillship lined up for the job.
The Paris-based player will be targeting about 206 million barrels of potential oil resource at the Sputnik-1 wildcat in the Arouwe licence, where it is joined by US supermajor ExxonMobil and Tullow Oil.
Perenco took the Tungsten Explorer in June on a short-term sublet from French supermajor Total, which has the unit from the third quarter for two years at $641,000 per day.
Block partner Tullow, which holds a 35% stake and an option to acquire an additional interest, said earlier this month that the well is expected to spud in late July or early August.
Perenco set its sights on de-risking the large Sputnik prospect after hitting oil shows at the nearby Arfan-1 exploration well on the same licence in 2011.
Whereas Arfan sits in just 72 metres of water, Sputnik is more challenging at around 1000 metres.
Further prospects and leads that hold gross mean risked resources of more than 330 million barrels of oil have been identified in Arouwe, which covers 4414 square kilometres.
US supermajor ExxonMobil farmed in to the licence late last year, gaining a 30% stake.
Perenco began production operations in **on in 1992, reaching average output of 60,000 barrels of oil equivalent per day last year.
The company has fields both onshore and offshore and operates two floating storage and offloading units there.
Discoveries include Ompoyi and Orindi offshore and Oba and Loche East onshore. The company has set its sights on a total of 30 wells in **on this year, utilising five rigs.

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