Tower Resources sets Cameroon Well Spud date as it Works to Secure Funding
AIM-listed, London-based, oil firm Tower Resources hopes to spud its NJOM 3 well offshore Cameroon in the last week of May. The company is in the meantime working on securing the funds both for the well and for the Njonji field development.
The NJOM 3 well in the Thali offshore block will be drilled by the Topaz Driller jack-up rig, currently in on a contract with Total in Gabon. The rig is owned by Vantage Drilling.
“Tower is in the final stages of planning the NJOM3 well, which will be drilled to a total depth of 1,100 meters intersecting at least three reservoir zones already identified by the NJOM1B and NJOM2 discovery wells drilled on the Njonji structure by the previous operator Total,” Tower Resources said.
“The Topaz Driller…is currently expecting to complete operations for its current charterer in Gabon in mid-May, which should make it possible to spud the NJOM3 well in the last week in May 2019,” Tower said, adding that the timeline might still be pushed, depending on the operations of the current rig charterer.
Tower was awarded the Production Sharing Contract for the block in September 2015, and has recently been granted an extension to the Initial Exploration Period to September 15, 2019.
Tower has said that the NJONJI-3 well is designed to confirm the greater reservoir thicknesses observed on the reprocessed 3D seismic in the up-dip area of the structure and also evaluate additional reservoirs that were not present in the areas where Total’s wells are located.
“The NJOM3 well is designed to supplement Total’s well data with a suite of measurement and logging tools and drill stem test (“DST”) flows to surface,” Tower said.
Tower then plans to suspend the well, with a view to subsequent completion as one of four initial production wells on the structure.
“This first phase of development […] aiming to exploit the 2C contingent resources (Pmean 18 million barrels oil, gross) already identified in the structure, aims to provide significant production to Tower in 2020.
