Panoro Energy today announced that the DHIBM-4H production well at the Hibiscus Ruche Phase I development offshore Gabon has successfully been drilled, completed and handed over to production operations without incident. The well encountered good quality oil saturated reservoir sands in the regionally prolific Gamba formation and has been put onstream at a stabilised rate of approximately 6,000 bopd, in line with expectations.

The well was drilled with the Borr Norve jack-up drilling rig in 116 metres water depth and is the second in a six-well production drilling campaign at the Hibiscus and Ruche fields which is expected to deliver on a gross basis approximately 30,000 barrels oil per day of new production when all wells are completed and onstream around the end of the year. The Borr Norve rig has now commenced drilling the third planned production well on the Hibiscus field, DHIBM-5H.

The first new production well on the Hibiscus field, DHIBM-3H, was put onstream in early April. Production from the well continues at a stabilised gross rate of 6,000 bopd from Gamba reservoir sands. 

Panoro holds a 17.5 percent working interest in the Dussafu Marin Permit.

John Hamilton, CEO of Panoro, commented:
“The completion of the second Hibiscus well is another significant step forward in our organic growth plan.  With two wells now onstream at the Hibiscus field Panoro’s group production is moving towards the 10,000 bopd level, keeping us on track to achieve group production of 13,000 bopd net to Panoro when all six new Hibiscus Ruche Phase I wells are onstream.”

The Dussafu Marin Permit

The Dussafu Marin Permit is a Development block with multiple discoveries and prospects lying within a proven oil and gas play fairway within the Southern Gabon Basin. To the north west of the block is the Etame-Ebouri Trend, a collection of fields producing from the pre-salt Gamba and Dentale sandstones, and to the north are the Lucina and M’Bya fields which produce from the syn-rift Lucina sandstones beneath the Gamba.

The Tortue field is one of five existing oil discoveries in the Dussafu Exclusive Exploitation Area (“EEA”) in which Panoro currently holds an 8.33% working interest.. There are four oil fields within the Dussafu Permit: Ruche, Tortue, Moubenga and Walt Whitman. A plan for development of the discovered resources within the Dussafu permit was approved by the Gabonese Government and an Exclusive Exploitation Authorisation (“the Ruche area EEA”) was awarded in July 2014. The area awarded under the EEA covers 850.5 km² and includes all four fields and numerous undrilled structures that could be economically and expeditiously developed through the Ruche area development infrastructure. The EEA allows the Dussafu joint venture partners to exploit hydrocarbon resources in the area of the EEA for up to 20 years from first production.

KeyFacts Energy: Panoro Energy Gabon country profile