Independent Operators Drive Efforts to Extend Lifespan of Africa’s Mature Oil Fields
Our Correspondent | Africa Guardian
Independent operators are leading the charge to extend production in Africa’s mature oil markets, including Gabon, Equatorial Guinea, and Angola, through innovative technologies and targeted exploration. These initiatives were highlighted during the Upstream E&P Forum at African Energy Week: Invest in African Energies 2024.
In response to the challenges of operating in these mature fields, independent firms are focusing on incremental exploration and technological advancements to revitalize existing assets. Perenco, for example, has launched appraisal drilling near its Hylia South West discovery in Gabon, aiming to identify new reservoirs and estimate oil volumes. Meanwhile, Trident Energy has kicked off a three-well infill drilling campaign on Block G in Equatorial Guinea, home to the mature Ceiba and Okume fields.
Armel Simondin, CEO of Perenco SA, emphasized the role of innovation and technology in maximizing field productivity, stating, “We need to find economic ways to develop those fields. Technology is key in enabling us to extend the life of the field.” Jean-Michel Jacoulot, CEO of Trident Energy, added, “Operating mature fields requires a granular approach, revisiting all acquired information and creatively reducing operating costs.”
Despite these efforts, operators of mature fields face challenges such as capacity constraints, aging infrastructure, and increased operational downtime. Tullow Oil’s CEO, Rahul Dhir, highlighted how cost-control strategies and investments in infrastructure upgrades have helped overcome these issues, particularly in Ghana’s Jubilee Field, where exploration success rates have been high.
“In Gabon, we’ve drilled approximately one exploration well per year over the past four years with a success rate of around 80%,” Dhir said. “The existing infrastructure is there, and that’s key to our success.”
Panelists also underscored the importance of regulatory stability and tailored contractual frameworks to support long-term investments in mature fields. Paul McDade, CEO of Afentra, explained, “Mature assets need as much of a development plan as the original project, requiring a stable regulatory environment to confidently invest.”
Afentra, focused on optimizing and extending the life of legacy assets, is redeveloping Africa’s mature oil fields. In Angola, the company recently received approval for the acquisition of Block 23, a shallow water production asset with significant upside potential. McDade stated, “In Angola, we’ve already discovered resources near infrastructure that haven’t been developed yet. We’ll target those first before exploring new territories.”
As independent operators continue to push for higher production in these mature markets, innovation, regulatory stability, and strategic investment remain key to sustaining Africa’s oil industry for the long term.
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